MicroStrategy Buys Another $94.2M of Bitcoin

MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that’s taken to accumulating bitcoin, said it bought 1,914 bitcoins between Dec. 9 and Dec. 29.

The company paid about $94.2 million in cash at an average price of $49,229 per bitcoin, it said in a statement.As of Dec. 29 MicroStrategy held about 124,391 bitcoins purchased at an average price of $30,159. Bitcoin is currently trading about $47,500, valuing the trove at $5.9 billion. The company has a market value of $6.1 billion, according to Bloomberg data.MicroStrategy raised funds for the purchase by selling shares.In the third quarter, the company added almost 9,000 bitcoin to its holdings, an average of 3,000 a month.CEO Michael Saylor has made bitcoin acquisition a second mandate for his 32-year-old company.

UPDATE (Dec. 30, 13:28 UTC): Adds total value of Microstrategy’s holding, market value in second bullet, share sale in third.

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