The company announced the completion of the last stage of buying the first cryptocurrency, now it owns almost 70.5 thousand Bitcoins.
MicroStrategy has completed its Bitcoin purchase in line with its reserve asset allocation policy. The company invested $650 million raised from investors in the acquisition of 29,645 BTC at an average of $21,918 per coin, including all expenses, including commissions.
As of December 21, 2020, MicroStrategy owns 70,468 bitcoins, spending $1.124 billion to purchase, with an average price of $15,963 per Bitcoin. The $650 million raised in December was raised through the sale of convertible bonds with a maturity of five years. Prior to that, the company invested $475 million in cryptocurrency from its own reserves.
“The acquisition of additional Bitcoins confirms our confidence in Bitcoin as the most widespread cryptocurrency and reliable store of value,” said Michael Saylor, CEO of MicroStrategy.
Earlier, the hedge fund One River Asset Management, together with the billionaire Alan Howard, purchased more than $600 million of Bitcoins. The One River Digital Asset Management Fund, which was launched in October specifically for investments in cryptocurrencies, plans to increase its volume by early 2021. assets in Bitcoins and Ethereums up to $1 billion.
On the night of December 21, Bitcoin updated its historical maximum value at around $24.3 thousand.
