Microstrategy has added $400 million worth of bitcoins

The company bought 7 thousand BTC at an average price of about $59.1 thousand. At the moment it holds 121 thousand BTC worth almost $7 billion.

Microstrategy has added $400 million worth of bitcoins

Software developer Microstrategy announced the purchase of 7 thousand bitcoins for $414 million. The average price of the cryptocurrency was $59.1 thousand. As of November 29, the company holds over 121 thousand BTC, acquired at an average price of $29.5 thousand. The value of bitcoins on Microstrategy balance reached $6.9 billion.

The company last reported its first cryptocurrency purchase in September. At that time, it purchased 5,050 bitcoins worth $242.9 million. Microstrategy’s head Michael Saylor is a strong supporter of digital assets. He has said that bitcoin will become the main savings vehicle of the 21st century and called China’s tighter regulation of mining and crypto-trading a trillion-dollar mistake.

Microstrategy is the largest cryptocurrency holder among public companies. In second place is electric car manufacturer Tesla, which holds 43,200 BTC worth almost $2.5 billion. In third place is Twitter creator Jack Dorsey’s company Square, which holds 8,000 BTC ($458 million).

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The post was written by Crypto Expert John Belford

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