Business intelligence firm MicroStrategy has added $94 million worth of Bitcoin (BTC) to its holdings after purchasing the crypto asset at an average price of $49,229.
According to a Thursday filing with the U.S. Securities and Exchange Commission, MicroStrategy purchased 1,914 BTC between Dec. 9 and Dec. 29 for $94.2 million, making its total holdings 124,391 BTC. With the recent buy, the company’s holdings are valued at roughly $5.9 billion, representing more than $2.1 billion in gains.
Our top trading bots
Since making its initial $250-million Bitcoin investment in August 2020, MicroStrategy has gone on to purchase more than $3.7 billion in BTC in separate buys using the company’s cash on hand in addition to sales of convertible senior notes in private offerings to institutional buyers. Though there are cases in which the business intelligence firm bought the dip, some buys followed the price surges in early 2021 when the BTC price was more than $50,000.
Related: Insiders sold MicroStrategy stock after Bitcoin’s bull run
The firm’s most recent BTC purchase follows the price of the crypto asset dipping under $46,000 on Thursday as it continues to show volatility prior to the new year. According to data from Cointelegraph Markets Pro, the price of Bitcoin is $47,226 at the time of publication, having fallen more than 7% in the last seven days.
Keep reading with Cointelegraph
