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.

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%.