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MicroStrategy adds another 5,050 bitcoin to its balance sheet to bring its total stash of the cryptocurrency to $5.1 billion

Carla Mozée   

MicroStrategy adds another 5,050 bitcoin to its balance sheet to bring its total stash of the cryptocurrency to $5.1 billion
  • Michael Saylor's MicroStrategy has purchased an additional 5,050 bitcoins for about $243 million.
  • The business enterprise software maker's total bitcoin holdings were valued at $5.1 billion as of Monday's session.
  • Bitcoin traded around $44,500 on Monday, a pullback after reclaiming the $50,000 level in August.

$4 has made another big purchase of bitcoin, bringing the value of its holdings of the most traded cryptocurrency to about $5.1 billion.

The company bought 5,050 for about $242.9 million in cash, representing an average price of $48,099 per coin, said CEO Michael Saylor $4. Saylor and MicroStrategy, in a $4, said the company now holds 114,042 bitcoins purchased for $3.16 billion at an average price of about $27,713 per bitcoin.

Bitcoin traded around $44,500 during Monday's session, valuing the company's bitcoin holdings at $5.1 billion.

Saylor has been a vocal backer of bitcoin and his enthusiasm about the cryptocurrency was highlighted by the August 2020 conversion by Saylor of $4. Saylor's obsession with bitcoin appears to have come out of the blue, $4.

Bitcoin's price has pulled back from the $50,000 level it had $4. The cryptocurrency had traded above that price in mid-May, bolstered by increased interest among financial institutions and other companies but concerns about regulatory moves in China and US spurred a selloff.

Bitcoin's recent retaking of $50,000 was made alongside a broader advance among other digital tokens including $4 and so-called alt coins such as cardano on a mix of news in the sector including technical upgrades and further corporate exposure to digital currencies. Crypto exchange $4 in August said it would add $4 to its balance sheet and invest 10% of future profits into digital assets.

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