Michael Saylor’s MicroStrategy buys another $15 million of bitcoin, just three weeks after its latest purchase

Michael Saylor’s MicroStrategy buys another $15 million of bitcoin, just three weeks after its latest purchase

As reported by Market Insider, “Michael Saylor’s MicroStrategy bought another $15 million worth of bitcoin on Monday, three weeks after its latest purchase in March. The CEO on Twitter revealed that his business intelligence firm purchased an additional 253 bitcoin at an average price of around $59,339 according to a Securities and Exchange Commission filing dated Monday.

As of 4/5/2021, we #hodl ~91,579 bitcoins acquired for ~$2.226 billion at an average price of ~$24,311 per bitcoin,”

MicroStrategy was the first corporation to directly purchase bitcoin, and made its last purchase on March 12.

Saylor has long been an advocate of digital currencies, especially bitcoin, and has been vocal about his stance. The bitcoin evangelist in February this year said 2021 is the “year of institutional investment” in cryptocurrency. MicroStrategy first made a $250 million bitcoin purchase in August of 2020 and announced that it was using existing cash on its balance sheet to acquire more of the digital currency. Bitcoin this year been embraced by major institutions including Goldman Sachs, BNY Mellon, Tesla, PayPal, and Visa. The world’s most popular cryptocurrency is trading lower on Monday by 0.258%, to $58,049 after flirting with the $60,000 last week. The digital asset has a market capitalization of around $1.1 trillion.