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According to Microstrategy’s executive chairman Michael Saylor, his company recently bought 301 bitcoins for $6 million at an average price of $19,851 per coin. Saylor detailed that the company’s balance sheet now contains 130,000 bitcoins, as the company’s stash is the largest number of bitcoins held by a publicly traded business today.
On Tuesday, Michael Saylor announced that Microstrategy bought 301 BTC for $6 million and the company paid an average price of $19,851 per coin. It’s been a while since Microstrategy bought bitcoin and the last time it bought BTC was at the end of June. At the time, the company “purchased approximately 480 bitcoins for approximately $10.0 million in cash.”
The purchase on June 28 brought Microstrategy’s BTC stock up to 129,699 bitcoin and the 301 purchased this week brings the company’s bitcoin count to a steady 130,000 BTC. “Microstrategy has purchased an additional 301 bitcoins for ~$6.0M at an average price of ~$19,851 each,” Saylor wrote on Tuesday. Microstrategy’s executive chairman added:
Microstrategy has ~130,000 bitcoins bought for ~$3.98 billion at an average price of ~$30,639 per bitcoin.
Currently, there is no other publicly traded company with as much bitcoin (BTC) as Saylor’s micro strategy. However, the trustee from the Mt Gox bankruptcy case reportedly has 141,686 BTC that will be distributed to creditors at some point. The listed Galaxy Digital Holdings is second only to Microstrategy, with approximately 40,000 BTC on the balance sheet.
As for private entities, there are two caches of BTC held by private organizations that hold more BTC than Microstrategy, and one of them is the Mt Gox stash. Block.one, the team behind EOS, has approximately 140,000 BTC according to current bitcoin treasury statistics. Following Microstrategy’s purchase of 301 bitcoins, a number of people commented on the company’s recent acquisition.
“Now you’re just greedy Saylor – Please save some for the rest of us,” the Crypto Rand Twitter account so.
What do you think about Microstrategy buying 301 bitcoins on Tuesday? Let us know in the comments section below.
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