MicroStrategy acquired 16,796 more Bitcoin for $175 million, adding to its previous purchase of 21,454 BTC. Now, it owns 38,250 Bitcoin according to its latest SEC disclosure. This occurred on the same day that its board of directors made the cryptocurrency its primary treasury reserve asset. It was also indicated that the company could add to its Bitcoin reserves in the near future. The company’s CEO Michael J. Slayer also restated the same information in a tweet from earlier today.
On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
— Michael Saylor (@michael_saylor) September 15, 2020
Grayscale’s founder Barry Silbert reacted to the news with a tweet of his own, commenting on the race between the two companies in acquiring Bitcoin.
Apparently there is some kind of bitcoin buying race between MicroStrategy and @Grayscale
— Barry Silbert (@barrysilbert) September 15, 2020
Eagle-eyed observers on Twitter noted that MicroStrategy appears to have been dollar-cost averaging at $11,111.11 per Bitcoin.
— John Street Capital (@JohnStCapital) September 15, 2020
However, Grayscale’s Bitcoin Trust is far ahead in the game as it currently holds over 400,000 Bitcoin. MicroStrategy has some catching up to do.