Billion-dollar public company Microstrategy Inc. has bought 16,796 more bitcoins. The company has purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million.
Microstrategy’s Bitcoin Investments
Microstrategy Inc. (NASDAQ: MSTR) has bought more bitcoin, CEO Michael Saylor revealed on Tuesday. He tweeted:
On September 14, 2020, Microstrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
This follows an update the company provided the SEC about its bitcoin investment plan. In the filing dated Sept. 11, the Nasdaq-listed company revealed that its board of directors has adopted a new Treasury Reserve Policy “that updated the company’s treasury management and capital allocation strategies.”
Under this new policy, the company’s treasury reserve will consist of two types of assets.