Michael Saylor’s Company Buys $217 Million in Bitcoin

MicroStrategy, the world’s largest publicly traded Bitcoin holder, has purchased 1,955 Bitcoin worth approximately $217.4 million between September 2 and 7. Cointelegraph reports that the purchase was made at an average price of $111,196 per coin as the cryptocurrency briefly surged above $113,000 before falling to around $110,000. This latest acquisition increases MicroStrategy’s total Bitcoin holdings to 638,460 BTC, which were purchased for roughly $47.2 billion at an average price of $73,880 per Bitcoin. 25.8% year-to-date returns on investment are currently being tracked, according to the SEC filing. MicroStrategy funded the latest purchase using proceeds from various share offerings, including sales of over 750,000 shares across multiple vehicles that generated more than $217 million in net proceeds.