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Virginia-based business intelligence firm MicroStrategy has purchased 27,200 coins for $2.03 billion, according to its Monday <a href="https://www.microstrategy.com/press/microstrategy-announces-btc-atm-activity-raised-2-billion-purchased-27200-btc-now-holds-279420-btc-with-btc-yield-of-26-ytd" rel="noopener noreferrer nofollow">press release</a>.
The firm bought its latest batch of Bitcoins at an average price of $74,463.
After its most recent purchase, which was funded via an at-the-market (ATM) equity offering, MicroStrategy's total holdings have now swelled to almost $23 billion. The firm's average purchase price is now approaching the $43,000 mark.
Earlier today, the price of Bitcoin hit yet another record high of $82,379 after surging by nearly 19% within just one week. It is currently trading slightly below the $82,000 level on the Bitstamp exchange. The cryptocurrency did not react to the most recent news despite the mammoth size of the purchase.
Meanwhile, MicroStrategy's shares are up as much as 9% in pre-market trading after the company's most recent announcement. The company's shares have surged by more than 27% over the past month, outperforming Bitcoin.
MicroStrategy's market cap has now swelled to nearly $55 billion after the company's shares have gained nearly 300% on the year-to-date basis. It is currently the <a href="https://companiesmarketcap.com/page/4" rel="noopener noreferrer nofollow">373rd</a> biggest company in the world, surpassing the likes of Volvo, Barclays and Volkswagen.
The company recently announced that it intended to raise a total of $42 billion in the long term in order to finance its Bitcoin purchases.
As <a href="https://u.today/bitcoin-rockets-to-77k-as-microstrategys-saylor-makes-stunning-prediction" rel="noopener noreferrer nofollow">reported by U.Today</a>, MicroStrategy cofounder Michael Saylor recently predicted that nation-states might end up adopting Bitcoin as their treasury asset. He also sees the price of Bitcoin surging to as much as $13 million in the long term. <a href="https://u.today/microstrategy-announces-shocking-2-billion-bitcoin-purchase" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

MicroStrategy Announces Shocking $2 Billion Bitcoin Purchase

U_Today

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