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October 2, 2022
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MicroStrategy buys another $ 10 million in Bitcoin and now has over $ 2 billion in BTC

MicroStrategy has been accumulating a large amount of Bitcoin since 2020

MicroStrategy’s CEO announced today that the corporate software maker has bought more than $ 10 million in Bitcoin, adding to its war chest more than two billion dollars in assets.

“MicroStrategy bought approximately 295 bitcoins for $ 10.0 million in cash, at an average price of ~ $ 33,808 per Bitcoin,” said Saylor on Twitter, adding that the company now has 71,079 Bitcoins acquired for $ 1,145 billion at an average price of ~ $ 16,109 per Bitcoin.

Saylor and MicroStrategy have been buying Bitcoin since last year, starting with a $ 250 million purchase that expanded to more than $ 450 million, later to more than a billion dollars. The company has pledged to invest all of its excess cash in Bitcoin going forward.

The company is also encouraging other companies to buy Bitcoin for its treasury funds. Last week, as CryptoSlate reported, MicroStrategy invited companies and business executives to its next seminar on the asset class at which the company will launch its “Bitcoin Handbook”.

This, in turn, contains legal, governance and financial considerations for other companies to consider and consult while making their own Bitcoin purchases.

It will be presented by MicroStrategy’s CFO, Phong le, who will guide corporations and participants on key strategic and operational considerations and associated steps to be considered for companies that integrate Bitcoin into a cash-flow strategy.

Meanwhile, news of today’s purchase came shortly after Saylor said this morning:

“My formula for success is to wake up early, work late and buy Bitcoin.”

But who knew he would actually end up doing this?

Bitcoin, currently ranked first by market cap, has risen 2.38% in the past 24 hours. BTC has a market capitalization of $ 644.47 billion with a 24-hour volume of $ 61.08 billion.

Source: CryptoSlate

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