Michael Saylor, the founder of MicroStrategy, said Tuesday his company has acquired an additional $175 million in bitcoin in a single purchase.
Saylor said on Twitter that his business intelligence company had completed the acquisition of 16,796 bitcoin on Monday.
This has significantly increased the total size of MicroStrategy's bitcoin holdings up to 38,250 bitcoin - worth roughly $416 million at current prices.
MicroStrategy told the Securities and Exchange Commission on Monday that it "May increase" its BTC holdings above the $250 million purchased in August.
MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M
Published on Sep 15, 2020
by Coindesk | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.