MicroStrategy spends $15 million to buy additional 328 bitcoins

Business intelligence firm MicroStrategy purchased an additional 328 bitcoins for approximately $15 million. This would be the firm’s first purchase of the crypto asset in the month of March after the publicly-traded company spent billions of dollars to acquire Bitcoin in February, this year. 

MicroStrategy holds about 90,859 Bitcoins acquired for roughly $2.186 billion at an average price of $24,063 per Bitcoin.

The purchase comes after MicroStrategy CEO Michael Saylor said the company would continue to purchase the digital currency. This could be attributed to the fact that the company considers Bitcoin as an asset that can serve as a “dependable store of value.” At the time, Saylor said in a statement: 

The company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin. 

A day before the Bitcoin purchase on 24 February, Saylor predicted that 7-8 billion people will eventually have “a bar of digital gold” on their phone, which they will use to store their “life savings.” Saylor, also stated that people were not aware of the fact that “Bitcoin is egalitarian progressive technology” that could outperform several tech companies.

There is no doubt that Saylor, a Bitcoin maximalist and hodler himself, will lead the company to acquire more Bitcoin. Reaffirming his stance on the asset Saylor even declared that “the world needs” Bitcoin and expects a “billion people” to use Bitcoin as “a savings account” on mobile phones within five years. At press time, BTC was trading at $48,037.94 and has been up 9.1% in the past 24 hours.