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Microstrategy Shares Have Increased Nearly 3 Times Since Bitcoin Investment

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MicroStrategy has almost tripled their company’s shares since first Bitcoin Investment in August 2020. MicroStrategy, the first publicly traded company to buy BTC, has been one of the key figures in the corporate interest in Bitcoin. The company holds Bitcoin, worth more than $ 2 billion.

On August 11, 2020, Nasdaq-listed business company MicroStrategy announced that it was allocating part of the company’s Reserve to Bitcoin. The company’s shares have risen almost 3-fold in the nearly 6 months since then.

MicroStrategy shares climbed From $ 134 to $ 389. MicroStrategy was the first publicly traded company to buy Bitcoin. The firm not only acquired BTC, but made it primary Treasury reserve asset by a board decision. MicroStrategy, whose shares have increased 3 times, holds more than 70 thousand Bitcoins.

MicroStrategy continued to gradually increase its BTC reserve after its initial investment in August 2020. MicroStrategy holds 70,470 Bitcoins. The value of these Bitcoins is about $ 2 billion when the BTC price is approx, 29 thousand USD. Microstrategy announced that more than 70 thousand Bitcoins were bought at an average price of $ 15,964.

In months of August, September and December MicroStrategy made four BTC investments. Finally, on December 21, they bought 29 thousand BTC with the sale of 650 million dollars of convertible bonds.

Read Also:

MicroStrategy Buys the Dip With Another $ 650 Million Worth Of Bitcoin

MicroStrategy Issued $650 Million In Bonds To Buy BTC

MicroStrategy Is Planning To Buy Another 400 Million Worth Of Bitcoin

Ammara
Ammarahttps://thecryptobasic.com/
I am the editor-in-chief of The Crypto Basic. Love to get involved in cryptocurrencies. I am in crypto since 2014. I like the way blockchain is progression, being adopted by large firms and in most parts of our lives. We are early adopters and followers of blockchain, and time will surely come when our success factor will be blockchain.

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