United States, Feb 25, 2021 /AlexaBlockchain/ – MicroStrategy said it will continue buying Bitcoin using “excess cash” and may issue more debt to finance the purchases. Shares of MicroStrategy jumped as high as 13%.
MicroStrategy Inc., the enterprise software firm that has embraced Bitcoin investing, said it paid an average $52,765 for nearly 20,000 tokens last week after issuing $1.05 billion in convertible bonds.
“We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may issue debt or equity securities… using the proceeds to purchase additional bitcoins.”
MicroStrategy Bitcoin Strategy
- MicroStrategy now holds over 90,000 bitcoin at a cost of $2.17 billion
- MicroStrategy has paid an average price of almost $24,000 for its coins, giving it a gain of about 100%.
- MicroStrategy reported $70.7 million in cumulative impairment losses as of the end of last year that the company attributed to Bitcoin’s price fluctuations, according to its 10K filing.
- MicroStrategy share have surged more than 400% in the past year.
