Cryptocurrencies
MicroStrategy Builds Up Bitcoin Cache by $10 Million
- The cryptocurrency bull adds 229 tokens to existing cache
- Bargain-hunters take advantage of Musk’s crypto critique
Photographer: Philippe Lopez/AFP/Getty Images
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MicroStrategy Inc. built up its Bitcoin cache with a new $10 million purchase, adding to Michael Saylor’s bet on the digital currency amid the latest wave of gyrating prices.
The enterprise-software company known for its bullish bets on cryptocurrencies disclosed in a Tuesday filing that it bought 229 Bitcoin at an average price of roughly $43,663 each. MicroStrategy now holds approximately 92,079 Bitcoins, which it says were acquired for about $2.25 billion at an average of about $24,450 per token, the filing shows.