MicroStrategy Buys Another $94.2 Million Worth of Bitcoin

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MicroStrategy is wrapping up the year with another Bitcoin announcement

Business intelligence firm MicroStrategy has purchased another 1,914 Bitcoins for $94.2 million in cash, according to its recent regulatory filing. 

The company’s Bitcoin trove has now grown to 124,391 Bitcoins that are worth roughly $5.9 billion at current prices. 

The latest purchase took place over the period from Dec. 9 to Dec. 29.

Notably, the company’s average purchase price has now surpassed $30,000, meaning that the price of Bitcoin will have to remain above the aforementioned level for the company to break even.

In early December, the firm also announced an $84 million Bitcoin purchase. 

Bitcoin is currently up 2.16% over the last 24 hours, changing hands at $47,491 on the Bitstamp exchange. The largest cryptocurrency is down 16% this month.   

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