Monday 13 September 2021 1:52 pm

Michael Saylor buys up another 5,050 Bitcoin for MicroStrategy

MicroStrategy – the world’s first PLC to hold Bitcoin – has bought more of the flagship cryptocurrency, taking its total holdings to a staggering 114,042 BTC worth almost $5.1bn.

The purchase was revealed by CEO Michael Saylor less than an hour ago.

Taking to social media, the 56-year-old declared the huge batch had been snapped up at an average price of $48,099 per unit. It means the 114,042 Bitcoin now held by MicroStrategy have been acquired at an average price of $27,713.

Bitcoin’s current price is just below $45,000.

MicroStrategy has, in the past, affirmed a commitment to purchasing enormous amounts of Bitcoin, and insists it has no target figure as it increases its holdings at numerous price points.

At 114,042 Bitcoin, MicroStrategy now possesses almost triple that of any other public company. It is understood Elon Musk’s Tesla is the second-largest with a holding close to 42,000.