microstrategy invests $ 650m more than $ 22k in bitcoin

us business intelligence company microstrategy made an additional $ 650m worth of bitcoin purchases, bringing its total bitcoin presence to 70,470 btc.

in a statement, the company said that an average price of 21 thousand 925 thousand dollars was paid per btc, and a total of 29 thousand 646 btc was purchased.

with the latest purchase, microstrategy now holds 70,470 btc, and their total value makes $ 1 billion 600 million at current prices.

microstrategy had previously made a total of 40,824 btc purchases in three stages. august and september, the company paid $ 425 million and received bitcoin, then made an additional $ 50 million purchase.

microstrategy’s big returns on bitcoin investments have led the company to take more bold steps in this regard. the company, which recently issued $ 650 million in bonds, announced that it would buy bitcoin with it. the purchase appears to have been completed, according to an official statement today.

the company paid an average of $ 15,964 per btc for a total of 70,470 btc.

the additional bitcoin purchase announced today confirms our belief that bitcoin, the world’s most widely adopted cryptocurrency, is a reliable store of value, ” ceo michael saylor said in a statement.

phong le, the company’s chief financial officer, said: “the company continues to believe that bitcoin will yield better returns and retain the value of our capital over time compared to holding cash., ”

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