MicroStrategy’s Bitcoin Buying Spree Reaches $4.45 Billion

Mar 3, 2021 Bitcoin, Investors, News
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MicroStrategy’s Bitcoin Buying Spree Reaches $4.45 Billion

MicroStrategy CEO Michael Saylor announced earlier this morning his firm has purchased approximately 328 more bitcoins for $15 million in cash, bringing the total to $4.45 billion. This latest purchase was made at an average purchase price of $45,710 per bitcoin.

Since the splashy announcement of the company’s first bitcoin purchase last August, MicroStrategy has been aggressively expanding its crypto trove. As of March 1st, the business intelligence company holds 90,859 BTC acquired for $2.19 billion, roughly half the value of the current holdings.

In less than a year, a relatively obscure intelligence software firm has turned itself into what many call a de-facto bitcoin ETF and its CEO Michael Saylor into one of bitcoin’s most prominent evangelists. Other famous bitcoin bulls include Galaxy Digital CEO Mike Novogratz and Twitter and Square SQ +6.7% founder and CEO Jack Dorsey, whose companies also bought hundreds of millions of dollars worth of bitcoin.

Meanwhile, the expert also notes that the cybercriminal(s) had “allegedly used a different operating system from that of the owner of the account.” This according to the expert “should have raised a red security flag for Bittrex.”

Source: Forbes.com 01.03.2021

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