MicroStrategy’s Bitcoin holdings close to $3 billion after buying $177m worth of bitcoins

MicroStrategy is one of the largest corporate holders of Bitcoin, and the company has now added more bitcoins to its balance sheet.

MicroStrategy purchases $177 million worth of bitcoins

MicroStrategy has announced earlier today that it has acquired 177 million worth of bitcoins. The company’s CEO Michael Saylor announced this via a tweet earlier today, revealing that the company now holds roughly $3 billion in bitcoins.

MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTRhttps://t.co/8jUlJImJbO

— Michael Saylor⚡️ (@michael_saylor) August 24, 2021

The company has been bullish on Bitcoin for the past few months, buying billions of dollars worth of the cryptocurrency. According to Saylor, the bitcoins were purchased at $45,294 per coin. MicroStrategy has already notified the United States Securities and Exchange Commission about the bitcoin acquisition.

Bitcoin drops below $50k

Bitcoin reached the $50k mark for the first time earlier this week. This is the first time Bitcoin had reached that price since May. The cryptocurrency market has experienced a mini-rally in recent weeks, with the total market cap now above $2 trillion again.