Michael Saylor, the Founder and CEO of American business intelligence company MicroStrategy has announced on Monday that the company has acquired an additional 7,002 Bitcoins for over $414 million (roughly Rs. 3,114 crore) in cash in its fiscal fourth quarter. He wrote on Twitter that the new tokens were acquired for an average price of $59,187 per Bitcoin.
This takes MicroStrategy's total Bitcoin holding to 121,044, which is worth nearly $7 billion as of Monday.
The CEO tweeted -
MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTR
CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company. Its other business is to develop business-intelligence software. While MicroStrategy's buying patterns haven't been as consistent as they were in 2020, the firm has been steadily adding more Bitcoins to its stockpile. It announced its first purchase, back in August 2020.
Following the CEO’s tweet, the company's share prices saw a big jump.
