MicroStrategy Buys Another 253 BTC, Now HODLs 0.5% of Bitcoin’s Circulating Supply
MicroStrategy took advantage of yet another consolidation.
The publicly-traded business intelligence company announced on Monday that they had purchased an additional 253 BTC for $15 million in cash at an average price of $59,339 per BTC.
As of writing, BTC is trading just under $58k, down 6% from its all-time high of $61,700 hit in mid of March.
MicroStrategy now holds 91,579 BTC with this latest purchase, representing nearly 0.5% of Bitcoin’s circulating supply.
MSTR shares are currently trading at $703.56, down from its ATH of $1,273 on Feb. 9 but up from $123 in August 2020.
“No price is too high to pay for the privilege of owning yourself.” – Rudyard Kipling on #Bitcoin
— Michael Saylor (@michael_saylor) April 5, 2021
The Tahinis Family, which runs Tahinis Restaurants, also purchased 0.5 BTC in accordance with their Treasury Reserve Policy at an average price of CAD 74,446 per bitcoin (approximately $58,762).
In August, after MicroStrategy announced that it had added BTC to its balance sheet, the Canada-based restaurant also invested its cash reserves in Bitcoin.