MicroStrategy Increased Bitcoin Investments by $240 Million

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MicroStrategy invests in Bitcoin again?

The largest cryptocurrency holder among public companies, MicroStrategy, has increased its Bitcoin investments. The software developer purchased 5,050 bitcoins for $242.9 million at an average price of $48,000 per digital coin. This was announced on Twitter by MicroStrategy CEO Michael Saylor.

As of September 12, the company owns 114 thousand bitcoins. The average cost of one bitcoin is $27.7 thousand. The market value of the first cryptocurrency, which MicroStrategy owns, exceeds $5 billion, while the company’s market capitalization is $6 billion.

The last time MicroStrategy invested in bitcoin was at the end of August. Then the company bought a cryptocurrency for $177 million. The head of the company, Michael Saylor, is an active supporter of the first cryptocurrency. He said that bitcoin will become the main store of value for the 21st century and called stricter regulation of mining and crypto trading in China a trillion-dollar mistake.

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