TechFlow news — MicroStrategy CEO Michael Saylor announced late Friday evening in US Eastern Time on Twitter that his company made its third purchase of Bitcoin, presenting the latest filing from the U.S. Securities and Exchange Commission (SEC) as proof.
Saylor used $50 million in cash to acquire 2,574 bitcoins, bringing the technology company's total Bitcoin holdings to approximately 40,824 BTC.
MicroStrategy purchased $250 million worth of Bitcoin on August 11, followed by another purchase of $175 million worth of BTC a month later.
Based on previous purchases, MicroStrategy’s average cost per Bitcoin is $11,635, with the total value of its Bitcoin holdings amounting to approximately $766.6 million.
As previously reported, Coinbase, a well-known U.S.-based cryptocurrency exchange, served as an intermediary for MicroStrategy’s initial Bitcoin purchases.
