Nasdaq-listed business intelligence firm, MicroStrategy announced the expansion of its Bitcoin (BTC) portfolio yesterday. Michael Saylor, the CEO of MicroStrategy, revealed that the company purchased additional 1,914 BTCs for a total of $94.2 million in cash.
In total, the business intelligence firm is now holding 124,391 BTC. The company bought the mentioned coins for approximately $3.75 billion at an average price of $30,159 per BTC. In 2021, MicroStrategy has expanded its BTC portfolio significantly.
In a recent statement, Saylor called Bitcoin digital property and mentioned that countries around the world will accept cryptocurrency due to its convenient infrastructure. The CEO of MicroStrategy added that BTC will outperform gold as an inflation hedge.
“MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin. As of 12/29/21, we hold ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin,” Saylor highlighted in a Tweet yesterday.
The stock of MicroStrategy (MSRT) jumped by more than 30% this year. After touching a record high of almost $1,300 in February 2021, MSRT has seen a correction over the last few months. Currently, the stock is trading near $560.
Active Bitcoin Addresses
Bitcoin network witnessed record activity in 2021 as a large number of addresses interacted on the daily basis. For BTC address activity, 2021 has become the strongest year to date.
“It is highly encouraging to see Bitcoin’s address activity break new ground in 2021, and not just on a single-day basis. With its mean daily addresses at 989,000, or just short of 1 million addresses/day, this was also the strongest year to date for Bitcoin’s address activity. To put this in context, although 2019 wasn’t a bad year for crypto by all accounts, it hasn’t seen a single day where BTC surpassed 1M DAA. In 2021, one million was almost the mean,” Santiment noted.
