Ever since the beginning of the year 2020, Bitcoin (BTC) has been constantly gaining mainstream adoption. A large number of non-crypto currency firms have spent millions in acquiring Bitcoin (BTC) throughout the year 2020.
Despite the involvement of several mainstream companies in driving the price of BTC, yet MicroStrategy has managed to play a huge role in the growth and advancement of BTC in the market.
It was towards the end of August 2020 when MicroStrategy revealed that it had made the first investment in Bitcoin (BTC). The firm had reportedly made the first purchased back in August and the other one in September 2020. For a couple of transactions, MicroStrategy invested a total of $435 million in acquiring a large volume of BTC.
Later, MicroStrategy made another purchase which was for another $40 million, and acquired more BTC in the process. Then at the end of the year 2020, MicroStrategy made its largest purchase for the year 2020 as invested $650 million.
Altogether, MicroStrategy spent a total of $1.125 billion and accumulated a total of 70484 Bitcoin (BTC) in the process.
As the year 2021 began, MicroStrategy became more bullish about the nature of BTC and even when BTC’s price plunged for the first time on January 10, 2021, MicroStrategy continued supporting it.
In mid-January 2021, MicroStrategy revealed that it acquired even more BTC by investing another $10 million.
As per the latest reports, the software developer from the United States has revealed that it has acquired even more BTC. The firm has reportedly carried out another purchase of a large batch of Bitcoin (BTC) and the current BTC volume it has under possession is 90,531.
This means that MicroStrategy has acquired 19,452 BTC in the recent purchase and is now sitting at 90,531 BTC. At the time of publishing, the total number of BTC MicroStrategy has under possession translate to around $4.5 billion.
The CEO of MicroStrategy, Michael J. Saylor has revealed that MicroStrategy made its latest deal by spending $1.026 billion. This means that the firm has reportedly spent an average of $52,765 per BTC as it acquired the entire batch.
After the recent investment, the firm has now invested a total of $2.171 billion into acquiring a total of 90,531 BTC. If an average figure is calculated, then MicroStrategy has spent $23,985 per BTC into filling its BTC stash.
In recent years, Michael J. Saylor as well as the company he founded “MicroStrategy” has turned out to be one of the top proponents of BTC. It was just recently when MicroStrategy pitched BTC to the entire mainstream industry. The firm reportedly suggests BTC to more than 14,000 mainstream institutions, asking them to look at the possibilities of investing in BTC.