According to the company’s CEO, Michael Saylor, MicroStrategy, an analytical software provider, has made its third investment in bitcoin.
According to reports for the US Securities and Exchange Commission (SEC), the company purchased 2,574 BTC, which cost it $50 million.
MicroStrategy became the first public company to invest in bitcoin as a reserve asset.
Saylor added that bitcoin investments are carried out as part of a strategy to protect excess capital from depreciation due to inflation.
After the last purchase, at an average price of $19,427, she owns 40,824 BTC.
In General, for all three operations, each bitcoin cost MicroStrategy an average of $11,635. At the current exchange rate, the value of MicroStrategy assets in bitcoin is about $775 million.
MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins.https://t.co/nwZcM9zAXZ
— Michael Saylor (@michael_saylor) December 4, 2020