On September 23, Bitrue announced on a Twitter post the opening of the ArtVerse token sale event page on its platform. The platform is working on the final touches before the presale, set to kick off on September 27. ArtVerse’s AVT token will list on Bitrue before other exchanges, according to confirmation on its Twitter page. ArtVerse is a decentralized platform focusing its objectives on streamlining activities within the crypto art industry. It is leveraging the decentralization offered by blockchain…
On September 13, 2021, MicroStrategy CEO Michael Saylor announced the financial entity had added 5,050 bitcoin to its total crypto holdings. This latest bitcoin bump cost the firm $242.9 million. This indicates that it bought BTC before the price crash on September 7. According to a statement today, the firm is now in possession of 114,042 BTC.
Michael Saylor tweeted that the company bought the coins at an average of $48,099 per bitcoin. He noted that they #hodl ~114,042 bitcoins acquired for almost $3.17 billion on this entire stash as of yesterday. The average price of each bitcoin was ~$27,713.
The firm has been making several significant purchases toward the end of 2020 and the beginning of this year. This way, it continues to acquire smaller amounts over time. MicroStrategy purchased a total of 8,957 bitcoin for approximately $419.9 million during the third quarter of 2021. The average price per Bitcoin was about $46,876.
Slow and Steady
Michael Saylor did not comment on the buy but tweeted that slow and steady wins the competition. The purchase fulfills Michael Saylor’s pledge to purchase more bitcoin during the firm’s Q2 earnings call. It comes just weeks after MicroStrategy bought an extra 3,907 bitcoin for almost $177 million in cash.
The company holds approximately 114,042 bitcoin to date. The company acquired the amount at an aggregate purchase price of $3.16 billion. That’s at an average price per bitcoin of $27,713 per bitcoin, including fees and expenses. The business intelligence firm owns more Bitcoin than any other public firm globally.
Leader in Bitcoin Space
The development comes after MicroStrategy sold off its class A typical stock in Jeffries, an ATM facility. In the third quarter, the firm sold an aggregate of 555,179 shares of the ATM facility. The average gross price per share was $727.64 for about $399.9 million. The business intelligence firm has positioned itself as the kingpin in the Bitcoin space. Additionally, they advocate and assist other companies, like Tesla, in converting their balance sheets from dollars to Bitcoin.
Remarkably, the firm does not take part in any Bitcoin lending nor invest in any other cryptocurrency. The firm’s game plan has been to buy Bitcoin with cash, self-custody it, and hold it indefinitely.