Tuesday, September 28, 2021
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Michael Saylor’s MicroStrategy buys 5050 more Bitcoin

Business intelligence company MicroStrategy has bought Bitcoin worth $ 242.9 million.

On Monday, MicroStrategy CEO Michael Saylor announced that the company had acquired an additional 5,050 Bitcoin for approximately $ 242.9 million in cash in the third quarter.

The purchase fulfills Michael Saylor’s promise during the company’s Q2 earnings call to buy more Bitcoin and comes just weeks after MicroStrategy bought an additional 3,907 Bitcoin for approximately $ 177 million in cash.

The company now owns approximately 114,042 bitcoin, which was purchased for a total purchase price of $ 3.16 billion and an average price per bitcoin of $ 27,713 per bitcoin, including fees and expenses. The company owns more Bitcoin than any other public company in the world.

The purchase will come after MicroStrategy sold its Class A common stock to Jeffries, an ATM facility. During the third quarter, MicroStrategy sold a total of 555,179 shares of the ATM Facility at an average gross price of $ 727.64 per share for approximately $ 399.9 million.

Meanwhile, Bitcoin prolonged last week’s losses on Monday morning, sparking widespread dumping across the crypto markets.

As a result of the decline, over $ 383 million in crypto assets were liquidated, bringing the total liquidated buyers of all crypto assets to 115,887. However, the situation later stabilized as Bitcoin appeared to have hit the $ 44,000 mark and the number dropped to $ 377 million.

Ethereum, on the other hand, has withdrawn almost $ 1 billion worth of ETH from circulation in the six weeks since the cremation began on August 5. About 284,000 ETH were burned, which is worth about $ 950 million, with nearly 1 million ETH being burned per hour, or 5.07 ETH per minute.

Image @ Pixabay / License

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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