Intelligence company Microstrategy shows no signs of stopping with its Bitcoin purchases after it announced on Monday that it has secured 7,002 bitcoins for approximately $414 million in cash.
The purchase was revealed after the company filed Form 8-K, where it disclosed that it has purchased the coins during the fourth quarter of the Company’s fiscal YTD, i.e., between October 1, 2021, and November 29, 2021.
As per the filing, the company secured the bitcoins at an average price of approximately $59,187 per BTC, Microstrategy now holds 121,044 bitcoins which the company purchased for a total of $3.57 billion, approximately $29,534 per bitcoin.
The total tokens are now worth almost double as per current prices of $57,000. The company has made several large acquisitions in the past as well, the recent one being its hoarding of 9,000 bitcoins in its third quarter of 2021.
