The biggest corporate bitcoin (BTC) holder, Microstrategy (MSTR), increased its holdings in November by purchasing over 16,130 BTC, or about $608 million at current prices.According to a regulatory filing on Thursday, the software company founded by Michael Saylor purchased the bitcoin for approximately $593.3 million in cash at an average price of roughly $36,785 per.It currently has 174,530 BTC in it, purchased for roughly $30,252 apiece on average.
The company’s efforts to acquire bitcoins have accelerated since the November transaction.MicroStrategy possessed 158,400 Bitcoin as of the end of October, having gained 6,607 Bitcoin from the start of the third quarter.It has now climbed its stakes by more than 10% in just one month.Additionally, MicroStrategy signed contracts with BTIG, Cowen & Company, and Canaccord Genuity to issue class A common stock valued up to $750 million.