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MicroStrategy Buys $414 Million Worth of Bitcoin




 

The business intelligence firm Microstrategy has announced another massive Bitcoin purchase on Monday, Michael Saylor the company's CEO said that they had bought an additional 7,008 Bitcoins at an average price of approximately $59,187 per coin since the beginning of October.

MicroStrategy's Bitcoin riches have now swelled to 121,044 coins, whose average purchase price is $29,534.

The company currently holds roughly 0.64% of Bitcoin's total circulating supply.

MicroStrategy is a company that provides business intelligence, mobile software, and cloud-based services. It was founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, the firm develops software to analyze internal and external data to make business decisions and to develop mobile apps.

Data from CoinGecko reveals that MicroStrategy remains the public company with the largest Bitcoin stash, followed by Tesla, which reportedly owns 48,000 BTC.



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