MicroStrategy, the business-intelligence firm now marketing itself simply as Strategy, said it bought 3,081 Bitcoin between Aug
MicroStrategy, the business-intelligence firm now marketing itself simply as Strategy, said it bought 3,081 Bitcoin between Aug. 18 and Aug. 24 for about $356.9 million, or roughly $115,829 per coin. Chairman Michael Saylor disclosed the purchase on social media on Monday, describing the move as part of the company’s ongoing treasury strategy.
The latest acquisition lifts the company’s stash to 632,457 Bitcoin—about 3 percent of the cryptocurrency’s total eventual supply—and brings its aggregate cost basis to roughly $46.5 billion. Saylor added that the firm’s Bitcoin position is showing a 25.4 percent yield so far this year, underscoring the group’s conviction despite recent price softness in the wider digital-asset market.
Corporate interest in Bitcoin continued elsewhere in Asia. Tokyo-listed Metaplanet Inc. said it bought an additional 103 Bitcoin for about ¥1.74 billion ($11.7 million), taking its holdings to 18,991 coins valued at around $2.2 billion. FTSE Russell’s semi-annual review also elevated the company to mid-cap status and added it to the FTSE Japan Index, potentially steering passive capital flows toward the stock and providing traditional investors with indirect exposure to Bitcoin.
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Source: https://thedefiant.io/news/markets/microstrategy-adds-3081-bitcoin-hoard-tops-632000-coins-47b57e16
