MicroStrategy Bought Another 7K Bitcoin Worth $414 Million

MicroStrategy – the firm spearheaded by one of Bitcoin’s most avid and vocal proponents, Michael Saylor – revealed yet another whopping Bitcoin purchase.

• MicroStrategy doesn’t seem to waste any time and resources when it comes to accumulating more bitcoin.
• Michael Saylor, the company’s CEO, announced that they had bought another 7,002 bitcoins for around $414.4 million in cash.
• The average price of their buy was approximately $59,187.

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. $MSTRhttps://t.co/OA8VWG1bZX

— Michael Saylor (@saylor) November 29, 2021

• At the time of this writing, bitcoin’s price sits at around $57K, which is an increase of around 93% from the average price of $29,534 at which MicroStrategy has made all of its purchases.
• This means that their investment is currently just shy of $7 billion.
• Data from CoinGecko reveals that MicroStrategy remains the public company with the largest Bitcoin stash, followed by Tesla, which reportedly owns 48,000 BTC.