Software giant MicroStrategy Inc., the biggest corporate holder of Bitcoin, gained even more of the digital token after acquiring over 5,000 coins this week, Forkast reported.
- MicroStrategy acquired an additional 5,050 Bitcoins for $242.9 million, bringing the average price to $48,099 per Bitcoin. The latest acquisition brings the firm’s total Bitcoin holdings to 114,042 purchased at around $3.16 billion.
- The transaction was made on Monday when Bitcoin was down 3% at around $44,800. The company acquired 8,957 Bitcoins in the third quarter at an average of $46,875 per Bitcoin.
- Chief Executive Officer Michael Saylor earlier this month said choosing Gold over Bitcoin would have been a “multi-billion dollar mistake,” noting that diagnosing a problem is not helped by not choosing the correct solution.
If I had chosen #Gold instead of #Bitcoin last year, it would have been a multi-billion dollar mistake. It doesn't help to diagnose the problem if you don't choose the right solution. pic.twitter.com/UrYksm7X6w— Michael Saylor⚡️ (@michael_saylor) September 5, 2021
MicroStrategy made its first Bitcoin purchase public in August 2020, and the firm plans to continue increasing its holdings of the digital token. MSTR is up 0.80%, while BTC is up 2.14%.