As of Wednesday, MicroStrategy (MSTR), the biggest corporate bitcoin (BTC) holder, increased its holdings by acquiring 14,620 BTC for approximately $615.7 million.According to a tweet from Michael Saylor, the Executive Chairman of the company, MicroStrategy purchased bitcoins at an average cost of $42,110 each.
At an average price of $31,168 per Bitcoin, the most recent acquisition brings the company’s holdings to 189,150 BTC, valued at around $5.9 billion.
August 2020 saw MicroStrategy’s first purchase of bitcoin.Prior to last Wednesday’s transaction, the corporation had bought 16,130 BTC last month, which was valued at almost $608 million.The business said in a separate filing that it has raised $610.1 million from its previously disclosed $750 million at-the-market (ATM) share offering.
As of early December, the business had over $2 billion in earnings from its bitcoin holdings.
The recent surge in the price of bitcoin has been attributed to hopes that exchange-traded funds (ETFs) holding the cryptocurrency may be approved by US regulators. This development is expected to attract a large amount of capital into the cryptocurrency, according to experts.microStrategy’s stock has increased by around 315% year to date, compared to a 200% increase for bitcoin.