MicroStrategy, a business intelligence company, has acquired additional 16,796 bitcoins (EXANTE: Bitcoin) at an aggregate purchase price of $175 million, said MicroStrategy Founder and Chairman Michael Saylor.
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According to him, the company has accumulated a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
In August 2020, the worldwide provider of enterprise software platforms, publicly announced investments in bitcoin as part of the two-pronged capital allocation strategy.
According to an official press release, the company considers bitcoin as "a dependable store of value and an attractive investment asset with more long-term appreciation potential."
With investments in BTC, Saylor claims the company wants to maximize long-term value for its shareholders with the help of the largest by market capitalization cryptocurrency.
MicroStrategy is known as the largest independent publicly-traded business on the market. At press time, the company's market cap is over $1,46 billion.
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