MicroStrategy CEO, Michael Saylor said in a tweet on Tuesday that the company had purchased additional 3,907 Bitcoins for $177 million in cash reserves. The average price of the Bitcoin purchased was $45,294.
The business intelligence firm increased its Bitcoin holdings by 3,907 BTC between July 1 and Monday, Aug. 23, according to a Form 8-K filing with the US Securities and Exchange Commission published on Tuesday.
Michael Saylor and MicroStrategy have consistently increased their holdings of Bitcoin at various price points since their first purchase in August 2020, demonstrating their unwavering devotion to the cryptocurrency.
The corporation now owns 108,992 Bitcoins, which it purchased for $2.918 billion at an average price of $26,769. The company’s Bitcoin holdings are now valued over $5.3 billion, with Bitcoin trading above $49,000.