Still Bullish: MicroStrategy Buys Another $50 Million in Bitcoin

According to today’s SEC filings, business intelligence firm MicroStrategy bought 2,754 bitcoins at a cost of $ 19,427 each – a total of $ 50 million. CEO Michael Saylor confirmed the purchase on Twitter.

The publicly traded company invested $ 250 million in the token in early August and grossed 21,454 BTC when the price was in the range of $ 11,700. On September 14, an additional $ 175 million was poured into Bitcoin and borrowed 16,796 BTC as the price of a token dropped to around $ 10,700.

Although the price of Bitcoin has risen significantly since then, reaching an all-time high near the $ 20,000 mark just this week, MicroStrategy and its CEO, who is evangelizing Bitcoin, remain clearly bullish. With its most recent purchase, it now holds 40,824 Bitcoin valued at over $ 765 million at current rates. Not bad for a $ 475 million investment.

According to MicroStrategy, Bitcoin holds more Bitcoin than any other publicly traded company Bitcoin Treasuries. Galaxy Digital Holdings, led by bullish investor Mike Novogratz, owns 16,651 BTC. Jack Dorsey’s Square, who also offers Bitcoin services through the Cash app, has 4,709 BTC on its books.