Update on MicroStrategy’s Bitcoin purchases: $489m spent, average price circa $37.6K

Update on MicroStrategy’s Bitcoin purchases: $489m spent, average price circa $37.6K

  • the enterprise software company said Monday that it purchased an additional 13,005 Bitcoins for about $489 million in cash at an average price of about $37,617 per Bitcoin. 
  • Accounting rules dictate that the firm will have to write down its holdings once the market value dips below the price at which it acquired the coin. 

On the session here BTC has stabilised after earlier lows:

The firm's intention to buy was posted last week: MicroStrategy to add circa US$500m to its holdings of BTC

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