Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

MicroStrategy acquires $490 million worth of Bitcoin

Ajibola Akamo by Ajibola Akamo
June 21, 2021
in Cryptos, Spotlight
MicroStrategy acquires $490 million worth of Bitcoin
Share on FacebookShare on TwitterShare on Linkedin

MicroStrategy Incorporated, the largest independent publicly traded business intelligence company, today announced that it had purchased an additional approximately 13,005 Bitcoins for approximately $489 million in cash at an average price of approximately $37,617 per Bitcoin, inclusive of fees and expenses.

As of today, MicroStrategy holds an aggregate of approximately 105,085 Bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per Bitcoin, inclusive of fees and expenses. MacroStrategy LLC, a subsidiary of MicroStrategy, holds approximately 92,079 of the Bitcoins.

Backstory

Nairametrics previously reported that MicroStrategy had completed the $500 million offerings of 6.125% senior secured notes last week Monday. The company CEO, Michael Saylor, took to Twitter to announce that the company has successfully acquired the Bitcoin it intended on buying.

RelatedPosts

Bitcoin may hit $30k in September despite headwinds

Top 5 cryptocurrencies to watch in August 2022

Also last week, MicroStrategy CEO announced the intentions to raise another $1 billion through a securities offering that would allow the company to sell up to $1 billion of its Class A Common stock over time. The funds could also be used to acquire even more Bitcoin as the company did not give specifics as to how the fund will be utilized. The company stated “We have not determined the amount of net proceeds to be used specifically for any particular purpose. As a result, management will retain broad discretion over the allocation of the net proceeds of any offering.”

What this means

On-Chain analytics have earlier reported an increase in Bitcoin accumulation by whales in recent times. The CEO of MicroStrategy Michael Saylor has been a big believer in cryptocurrency, especially Bitcoin. It is anticipated that as the market continues to decline, the company will utilize some of the funds raised through selling of class A common stock to reduce the total average cost of purchase.

News continues after this ad


Bitcoin is trading at $32,400, down 4.32% for the day, as of the time of writing this report.

Related

Tags: BitcoinMicroStrategy Inc.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Confusion as NUPRC rejects approval of Seplat and Mobil deal hours after President Buhari approved
    • Sell-offs from MTN causes market to dip by N125 billion
    • Crypto-mixing service, Tornado Cash, blacklisted in the United States 

    Follow us on social media:

    Recent News

    Nigeria loses $4 billion annually to oil theft  – NUPRC

    Confusion as NUPRC rejects approval of Seplat and Mobil deal hours after President Buhari approved

    August 8, 2022
    Weekly Stock Update: Nigerian local bourse’s ASI depreciates by 0.22% w-o-w

    Sell-offs from MTN causes market to dip by N125 billion

    August 8, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com