MicroStrategy extended its weekly Bitcoin buying spree for the seventh consecutive time, solidifying its position as the largest corporate Bitcoin holder with nearly $45 billion in assets.
MicroStrategy Technologies Inc (NASDAQ:MSTR) has added to its Bitcoin (CRYPTO:BTC) buying spree for the seventh consecutive week.
What Happened: MicroStrategy announced Monday that it purchased an additional 5,262 Bitcoin for approximately $561 million at an average price of $106,662 per coin before the recent market correction.
The Virginia-based software company now holds a total of 444,262 Bitcoin, valued at $45 billion based on Monday's closing price for the cryptocurrency.
MicroStrategy's total Bitcoin purchase price now stands at $27.7 billion, giving the company an unrealized gain of $14.9 billion.
The company disclosed in a Form 8-K filing with the Securities and Exchange Commission that it had sold approximately 1.32 million shares of MSTR convertible notes, raising over $7 billion. The funds are reportedly intended for further Bitcoin acquisitions.
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