MicroStrategy added 8,957 BTC to its holdings in Q3 2021

MicroStrategy bought an further 8,957 BTC successful Q3, the institution has announced.

The steadfast revealed the important summation successful its Bitcoin holdings successful its third-quarter 2021 fiscal results released connected 28 October.

According to the report, the company’s BTC haul averaged $46,876 and outgo a full of astir $420 million.  The acquisition terms included fees and different expenses, with immoderate of the coins apt bought astatine little prices pursuing the benchmark cryptocurrency’s slump to lows of $40k successful September.

MicroStrategy archetypal bought Bitcoin successful Q3 2020, sparking an organization scramble for the crypto arsenic it rallied to interruption the grounds highs acceptable successful 2017.

In October 2020, Saylor revealed that helium personally held 17,732 BTC bought astatine an mean terms of $9,882. According to him, the institution knew of this presumption adjacent earlier it decided to commencement buying BTC.

Buy much Bitcoin

MicroStrategy’s Bitcoin holdings person accrued steadily since Q3 2020 erstwhile the institution held astir 38,250 BTC. After jumping to 70,469 BTC successful Q4 2020, the institution added much astatine the opening of the twelvemonth to interruption the 100k mark.

As of 30 September, the steadfast held a full of 114,042 BTC, with cumulative holdings totaling astir $5 billion. At existent prices of astir $60,755, the firm’s full holdings are worthy astir $6.9 billion.

But according to the fiscal report, MicroStrategy plans to bargain much Bitcoin arsenic portion of its firm strategy. The institution volition look to usage its excess currency flows to get much bitcoin, it noted successful the papers and has besides earmarked indebtedness and equity transactions arsenic a root of funds for aboriginal acquisitions.

Other than that, the institution plans to clasp Bitcoin long-term, highlighting CEO Michael Saylor’s content that Bitcoin’s terms is acceptable to spell adjacent higher.  

Importantly, MicroStrategy wants to usage its presumption arsenic 1 of the apical holders of Bitcoin to “provide enactment among the Bitcoin community.”

As of writing, Bitcoin terms is attempting to found enactment supra $60,000 aft different explosive tally successful October saw it deed a grounds precocious supra $67,000.