Money and Markets

MicroStrategy just bought another $489 million in bitcoin to add to its vast trove of the cryptocurrency

Business Insider US

MicroStrategy CEO Michael Saylor
  • MicroStrategy spent roughly $489 million to purchase an additional 13,005 bitcoins, the company announced Monday.
  • It paid an average price of about $37,617 per coin.
  • Michael Saylor's company now holds an aggregate of approximately 105,085 bitcoins.
  • For more stories visit Business Insider.

MicroStrategy said Monday it spent roughly $489 million to purchase approximately 13,005 bitcoins for an average price of about $37,617 per coin. Bitcoin has fallen sharply in recent days and dropped 8% on Monday to $32,590.

Bitcoin bull Michael Saylor's company now holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per bitcoin.

The last time MicroStrategy announced a large bitcoin purchase was in February, when the company purchased approximately 19,452 bitcoins for about $1.026 billion in cash at an average price of $52,765 per bitcoin, inclusive of fees and expenses.

The recent dips in bitcoin haven't undermined Saylor's steadfast bullishness. Last week, MicroStrategy filed to sell as much as $1 billion in common shares in part to fund additional bitcoin purchases. The company also completed the sale of $500 million in high-yield senior secured notes, offered so it could buy more bitcoin.

Shares of MicroStrategy were down 7.65%, trading around $596, shortly after the opening bell on Monday.

Get the best of our site emailed to you every weekday.

Go to the Business Insider front page for more stories.

Rand - Dollar
16.43
+0.1%
Rand - Pound
19.79
+0.2%
Rand - Euro
16.70
+0.1%
Rand - Aus dollar
11.54
+0.2%
Rand - Yen
0.12
+0.1%
Gold
1,781.93
+0.1%
Silver
20.23
-0.2%
Palladium
2,149.50
-0.1%
Platinum
936.00
-0.2%
Brent Crude
95.10
-3.2%
Top 40
64,022
0.0%
All Share
70,741
0.0%
Resource 10
63,315
0.0%
Industrial 25
86,967
0.0%
Financial 15
16,154
0.0%
All JSE data delayed by at least 15 minutes Iress logo