No Comments seller buys $650 million in Bitcoin


MicroStrategy buys $650m in Bitcoin

In domain industry circles MicroStrategy (Stock price: MSTR (NASDAQ) $317.60 +16.40) is known for being the company that sold for $30,000,000. While the company still owns a nice portfolio of domain names, they are a big believer and big holder in Bitcoin. They now hold more Bitcoin than the U.S. government.

CoinTelegraph wrote:

Business intelligence company MicroStrategy has added to its Bitcoin (BTC) stash, with a purchase of 29,646 BTC for a total of $650 million, an average of around $21,925 per Bitcoin

CEO Michael Saylor tweeted the news immediately following a pullback in price to $22,247, although it is unclear whether the acquisition coincided with this event.

MicroStrategy announced its intention to buy more Bitcoin earlier this month with a $400 million debt security sale to raise funds for the purchase. The bond sale ultimately brought in $650 million, which has now been used to buy Bitcoin as promised.

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