MicroStrategy bought another $400M worth of Bitcoin

Michael Saylor, the CEO of the US-listed software firm MicroStrategy which provides Business Intelligence (BI), Mobile software and Cloud software has announced that the company has purchased an additional Bitcoin (BTC) 7,002. The purchase marks yet another addition to the company’s already massive bitcoin holdings.

MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX

— Michael Saylor⚡️ (@saylor) November 29, 2021

The announcement was made by Saylor on Twitter Monday, In the tweet the CEO mentioned that  purchase is worth some USD 414m and the company now holds BTC 121,044, acquired for about $3.57 billion, and with an average purchase price of $29,534. The current value of the 121,044 is about $6.9 billion.

In the tweet,The new purchase announcement from MicroStrategy appears to have given some support to the bitcoin price, although the impact so far has been limited. BTC traded at USD 57,174 at press time, up by 1.5% during the 15 minutes since the announcement.

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