MicroStrategy seems to be in no rush as MicroStrategy has once again made a big purchase, this time worth $1.5 billion in BTC.
Prominent Bitcoin advocate Adam Back was quick to praise the company’s move, describing the average purchase price of $95,976 as a ‘good price.’
This is the third consecutive time that the business intelligence giant founded by Michael Saylor has announced a large BTC purchase. While the firm spent about $1.5 billion to acquire 15,400 BTC this time, it still lags behind last week’s record of 55,500 BTC (worth $5.4 billion at the time).
With this latest acquisition, MicroStrategy’s total Bitcoin holdings now stand at 402,100 BTC, purchased at an average price of $58,263.
This means that the company has spent almost $23.5 billion to accumulate its Bitcoin holdings. With the asset's current price above $95,000, the total value of the holdings is now well over $38 billion – or a paper profit of almost $15 billion.
The price of bitcoin is currently trading at a price level of $94,000.
