A few days ago, Microstrategy announced that the company bought an additional 262 bitcoins for $15 million in cash. The company’s CEO Michael Saylor made the announcement on Twitter.
On in his previous tweets, Saylor explained how much Microstrategy bought, the price it paid, the number of bitcoins the company owns and the average price the company paid per currency.
Despite this announcement, bitcoin (BTC) fell during trading that week to a low of $55.011, and recorded losses of more than 2.7%. This came after BTC hit a monthly high of $58.156 per currency approaching the all-time high of cryptocurrency at $58.350 per coin.
The company’s average dollar cost strategy has paid off so far. The company’s + 91k BTC reserve is worth more than $5.1 billion, but the average BTC costs $24.214 and indicates that it was all bought for $2.2 billion.
In addition, the balance sheet of the business intelligence company (BI) with 91.326 bitcoin is only 8.674 BTC away from reaching 100.000 BTC.