Back in 2020, when Bitcoin (BTC) was growing bigger and it needed the support of mainstream institutions, the first company to do it was MicroStrategy. It is a major business intelligence company that is based in the United States that has played a huge role in the mainstream adoption of Bitcoin.
MicroStrategy is one of the major tech and software companies in the United States that is run by Michael J. Saylor is the company’s CEO. MicroStrategy was reported the first-ever company in the United States that had invested in Bitcoin while being listed on the public market.
Since late 2020, MicroStrategy has continued with its streak of purchasing Bitcoin whenever possible. The first purchase MicroStrategy carried out for Bitcoin was back in August of 2020 followed by the month of September 2020, when it made another purchase.
Then the next investment MicroStrategy made was in the month of October 2020 and then December 2020 respectively. Then, as the year 2021 began, MicroStrategy continued with the accumulation of Bitcoin, bringing its overall BTC accumulation to over 100,000.
Whenever the Bitcoin market is experiencing a slight downtrend and investors start losing confidence in its bullish run, MicroStrategy tends to make its entry. In the majority of such instances, MicroStrategy is seen making investments and purchasing more Bitcoin in the process.
This time again, MicroStrategy has made another move and acquire another 3,907 Bitcoins in the process. The reports suggest that MicroStrategy has acquired many Bitcoin by paying a handsome amount of $177 million.
Following the latest acquisition of 3,907 Bitcoins, MicroStrategy now has a total of 108,992 Bitcoin under its possession. The CEO of the company, Michael J. Saylor has confirmed the report, and as a result, MicroStrategy’s Bitcoin holdings now translate to $5.13 billion.
Whereas, the data shows that so far, MicroStrategy has now spent almost $2.918 billion for the acquisition of these many Bitcoin. This means that as of now, MicroStrategy is at a profit of $2.212 billion from the acquisition of Bitcoin.
According to MicroStrategy, it has acquired a total of 108,992 Bitcoin at an average price of $26,769 per Bitcoin. As Bitcoin continues gaining in on its price, the total amount locked for Bitcoin in USD at MicroStrategy is bound to experience a rise.
Even when the majority of the Bitcoin market was fully bearish, MicroStrategy continued supporting Bitcoin and kept investing in it. MicroStrategy has vowed that no matter what happens with the Bitcoin market, it would continue investing in Bitcoin.
As of now, Bitcoin is continuing with its rally and has been experiencing a decent rise in its price. In the last 24-hours, the price of Bitcoin has experienced around a 2% rise but it is expected to cross the $50k figure in the upcoming days.