MicroStrategy reports on billions of investments in bitcoin

The Virginia-based company MicroStrategy, traded on NASDAQ, announced its total investments in bitcoins in 2020 reached $1.125 billion. The average purchase price was almost $16,000.

NASDAQ-listed MicroStrategy, a company based in Tysons Corner, Virginia, announced that it acquired additional 29,646 BTC for approximately $650 million at an average price of around $21,925 per coin, including fees and costs.

As of December 21, 2020, the company owns a total of approximately 70,470 BTC, which were acquired for an aggregate purchase price of approximately $1.125 billion, and the average purchase price resulted in $15,964 per BTC, including fees and costs.

“The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value.  We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price,” MicroStrategy CEO Michael J. Saylor said in an official statement.

MicroStrategy is the largest independent publicly-traded business intelligence company and operates a leading enterprise analytics platform.

For the first time, MicroStrategy’s plans to invest in bitcoin became known in early August 2020. Then the company announced plans to invest $250 million in bitcoin, gold and other “alternative assets” over the next 12 months. The reason was “the economic and public health crisis precipitated by COVID-19, unprecedented government financial stimulus measures including quantitative easing adopted around the world, and global political and economic uncertainty”. “We believe that, together, these and other factors may well have a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types, including many of the assets traditionally held as part of corporate treasury operations,” Sailor said at the time.

Via: 2Coinfox.info

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