MicroStrategy invested $177 million in Bitcoin and now holds nearly 109,000 BTC

MicroStrategy bought more bitcoins again (Bitcoin), the company increased its holdings by 3,907 BTC.

According to Form 8-K Record Following the release of the US Securities and Exchange Commission on Tuesday, the business intelligence increased its Bitcoin holdings by 3,907 BTC between July 1 and Monday, August 23.

The SEC filing also shows that MicroStrategy spent an average of $45,294 to purchase additional bitcoins.

Through the latest acquisition, Michael Saylor’s company now holds 108,992 BTC, and the company’s cost of acquiring the company at an average price of approximately $26,769 per “coin” is approximately $2.918 billion.

With the bitcoin transaction price exceeding US$49,000, the company’s holdings of bitcoin are worth more than US$5.3 billion.

The purchase announcement on Wednesday also fulfilled its previous promise to continue to increase its Bitcoin position. As Cointelegraph previously reported, The company said in June that the book losses it held during the fall in the crypto market in the second quarter hardly curbed the appetite for BTC.

In fact, more than 50% of the crypto market’s decline did cause some impairment losses on US companies holding Bitcoin. Tesla also reported an impairment loss of $23 million As part of its second quarter financial report, its holdings of Bitcoin.

MicroStrategy announced its first purchase of Bitcoin in August 2020 and has been increasing its BTC position. The company’s CEO Michael Saylor has also become a supporter of BTC and even encouraged other companies to consider adding Bitcoin to their balance sheets.

Related: MicroStrategy expanded the company’s Bitcoin holdings with a purchase of $489 million

MicroStrategy’s latest Bitcoin balance sheet expansion follows closely BTC price trend breaks through the $50,000 mark For the first time since May. The move marked an 87% increase in the cryptocurrency with the largest market capitalization since it fell to the bottom of $27,000 in mid-May.

Bitcoin has not yet held $50,000, because the upward rebound stalled at $50,500, and BTC has fallen by $2,000 in the past 24 hours of trading.