MicroStrategy Company Continues to Buy Bitcoin with New $ 10M Purchase

MicroStrategy has acquired 314 BTC.

The American company now holds 70,784 BTC in its treasury.

MicroStrategy, listed on NASDAQ, buys $ 10 million worth of Bitcoin (BTC) for its cash.

314 additional BTC

The company, MicroStrategy, made a purchase of Bitcoin again for its cash.

According to CEO Michael Saylor, the new $ 10 million was purchased for an average of $ 31,808 per bitcoin. Form 8-K filed Jan. 22, 2021 with the U.S. Financial Constable, shows the company has purchased approximately 314 additional bitcoins.

This brings the total number of BTCs held by MicroStrategy to 70,784, which is worth over $ 2.28 billion at the current price.

MicroStrategy made its first bitcoin purchase in August 2020. At the time, the company’s CEO, Michael Saylor, explained that these acquisitions were made as part of a new capital allocation strategy to maximize the long-term value for shareholders.

MassMutual

Another example is the American insurance company MassMutual invested $ 100 million in BTC in December. The company also acquired shares in a fund management company administering around $ 2.3 billion worth of BTC. Representatives for MassMutual told the Wall Street Journal that the insurance company sees Bitcoin as giving it “  measured, but significant exposure to a growing economic aspect of our increasingly digital world  .“