MicroStrategy has made an acquistion that will expand the company’s Bitcoin holdings. With the purchase, MicroStrategy will now have more than $1.6 million in Bitcoins, which represents 4% of the total Bitcoins in circulation. The company plans to continue to use Bitcoins as a means of payment, and to hold and actively trade Bitcoins within the company’s cloud-based trading platform.
MicroStrategy, an enterprise software company, has completed the purchase of bitcoin-related technology assets and has acquired a minority stake in the company. The deal, which was announced today, was valued at $489 million.
MicroStrategy Inc. (Nasdaq: MSTR), a leading provider of enterprise business intelligence software suites, announced that it has closed its previously announced acquisition of BitPay, Inc. (Nasdaq:BPAY). The transaction values the company at approximately $489.0 million.. Read more about microstrategy bitcoin holdings chart and let us know what you think.
MicroStrategy has been buying more Bitcoin (BTC), despite the current price war for the largest cryptocurrency by market capitalization.
According to Monday’s announcement, the company bought 13,005 BTC at an average price of $37,617, for a total of about $489 million.
According to Monday’s report, MicroStrategy’s bitcoin holdings have crossed the 100,000 BTC mark, and the company now owns 105,085 BTC.
At the current BTC spot price, the bitcoins owned by MicroStrategy are worth $2.74 billion, or an average value of just over $26,000 per bitcoin.
As part of the announcement, the company revealed that its subsidiary MacroStrategy LLC holds 92,079 BTC of the total bitcoin balance.
In early June, the company announced that it had taken on up to $400 million in debt to build up its bitcoin cash. As Cointelegraph previously reported, the junk bond offering was four times oversubscribed, forcing the company to increase the offering to $500 million.
Even without the recent purchase, MicroStrategy has the most bitcoins on its balance sheet of any publicly traded company with a BTC estimate.
MicroStrategy has more than twice as many bitcoins as Elon Musk’s Tesla.
Monday’s announcement comes in the midst of a red day for bitcoin and the crypto-currency market in general. The price of BTC briefly fell to $32,000 and the price of Ether (ETH) fell below $2,000 for the first time since late May.
At the time of writing, the market capitalization of cryptocurrencies has fallen by more than 5% in the past 24 hours and currently stands at $1.37 trillion.
Monday’s price drop coincided with reports from China confirming a ban on cryptocurrency trading by public and private financial institutions.
The news follows an even stronger crackdown by Beijing on cryptocurrencies, which has also hit bitcoin miners.MicroStrategy, a provider of ERP migration software, has completed its purchase of blockchain-related firm Bitbackers for an undisclosed amount. The company is a leader in the ERP migration space, and offers an innovative approach to streamlining and automating supply chain management processes.. Read more about microstrategy bitcoin holdings percentage and let us know what you think.
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