MicroStrategy declared the purchase of an extra $1.028 billion in Bitcoin this Wednesday, converting mountains of the recently issued zero-interest debt into one of the single greatest dollar Bitcoin investments ever performed by a publicly traded corporation.
Initially, MicroStrategy announced that it is looking for another $600 Million to buy Bitcoins, but later this figure has risen to $1 billion.
CEO Michael Saylor’s business intelligence company acquired the 19,462 BTC at an average rate of $52,755 per unit. The venture now owns 90,541 Bitcoins worth roughly around $4.75 billion at press time. This move is undoubtedly bolstering its image among Wall Street traders as a de-facto Bitcoin pegged fund, even if one with an overrated hype surrounding it.
The most recent buy, MicroStrategy’s largest green bag investment in the cryptocurrency so far, is second only to shockwave inducing Tesla $1.5 billion investment on the list of identified Bitcoin purchases by a U.S. company. MicroStrategy was by now and will likely continue to be the non-crypto firm with the richest Bitcoin loads as CEO Michael Saylor persists to pursue a coin procurement strategy now codified in the commercial intelligence company’s officially declared mission.
