MicroStrategy buys more bitcoin for $489 million in cash

Bitcoin • June 21, 2021, 8:22AM EDT
UPDATED: June 21, 2021, 9:33AM EDT
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Software company MicroStrategy announced Monday that it had bought an additional 13,005 bitcoins for around $489 million in cash.

The average purchase price per bitcoin was $37,617, said MicroStrategy. The price of bitcoin has fallen sharply over the past few days, and one bitcoin is currently priced at around $32,500.

MicroStrategy's new bitcoin purchase comes after the company completed its $500 million offering of secured notes last week. The offering was of secured notes due 2028 that bear an annual interest rate of 6.125%.

Nasdaq-listed MicroStrategy starting buying bitcoin last August and since then has accumulated 105,085 bitcoin on its balance sheet. The aggregate purchase price of these bitcoins is around $2.75 billion at an average purchase price of about $26,080 per bitcoin. MacroStrategy LLC, a recently formed subsidiary of MicroStrategy, holds approximately 92,079 of the bitcoins.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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