A big participant in the business intelligence market, MicroStrategy, has dramatically boosted its holdings in Bitcoin by purchasing an additional 5,445 BTC.
This action is a part of the company’s ongoing plan to invest in the most popular cryptocurrency and demonstrates its solid conviction in the potential value of the digital asset.
According to a recent SEC filing, MicroStrategy bought the extra bitcoins for about $147.3 million, or $27,053 per bitcoin on average, fees and costs included.
Between August 1 and September 24, MicroStrategy and its affiliates acquired the extra Bitcoins, raising their total holdings to an astonishing 158,245 BTC. At an average purchase price of $29,582 per bitcoin, they were obtained for a total of almost $4.68 billion.
Michael Saylor, the former CEO who resigned a year ago but is now the executive chairman, has long been a supporter of Bitcoin, and his cryptocurrency projects have garnered a lot of attention.
