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MicroStrategy makes good on promise to buy another 17K Bitcoin


MicroStrategy acquired 16,796 more Bitcoin (BTC) for $175 million, adding to its previous purchase of 21,454 BTC. Now, it owns 38,250 Bitcoin, according to its latest disclosure to the United States Securities and Exchange Commission. 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.

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.

Eagle-eyed observers on Twitter noted that MicroStrategy appears to have been dollar-cost averaging at $11,111.11 per Bitcoin.

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.

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