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MicroStrategy buys more than $1 billion worth of bitcoin, adding to massive holdings

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MicroStrategy announced Wednesday it bought just over $1 billion worth of additional bitcoin, just days after finalizing another sale of convertible debt.

The Virginia-based enterprise software company said it paid an average price of $52,765 per bitcoin, including fees and other expenses. Its acquisition of approximately 19,452 bitcoins puts MicroStrategy’s total holdings of the digital token at 90,531.

MicroStrategy revealed its first bitcoin purchase in August, using existing cash on its balance sheet to acquire the cryptocurrency. It has since completed two convertible debt offerings to raise capital to finance additional purchases. The most recent offering was completed last week,



Source cnbc.com

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