Investing.com — MicroStrategy, a major player in the business intelligence field, recently bought approximately $1.1 billion worth of bitcoin. The purchase, which took place from Jan. 13 to Jan. 20, was funded by the proceeds from the company’s sale of over 3 million shares.
During this period, the company sold a total of 3,012,072 shares, generating proceeds of $1.1 billion. These funds were then used to acquire about 11,000 bitcoin at an average price of roughly $101,191 each.
As of Jan. 20, MicroStrategy’s aggregate holdings included approximately 461,000 bitcoin. These were acquired at a total purchase price of $29.3 billion, with an average purchase price of approximately $63,610 per bitcoin.
The recent acquisition demonstrates the company’s continued investment in the digital currency.
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