MicroStrategy now owns over 100,000 bitcoins worth more than $3 billion after latest purchase

MicroStrategy now owns over 100,000 bitcoins worth more than $3 billion after latest purchase

Said Monday it owns more than 100,000 bitcoins after completing another purchase round, this time spending roughly $489 million on 13,005 tokens. Shares of the Virginia-based enterprise software company were down more than 6% in premarket trading, mirroring a similarly sized slide in the price of bitcoin Monday morning. The cryptocurrency was as reports surfaced that China was ratcheting up its . MicroStrategy said the average purchase price of its 105,085 bitcoin trove is $26,080 apiece, including fees and other expenses. The company's holdings were worth more than $3 billion as of Monday. MicroStrategy has in the past year gone from relative obscurity to a well-known force on Wall Street and in the crypto community, thanks to its aggressive bets on bitcoin and the from Chairman and CEO Michael Saylor, who routinely touts bitcoin on Twitter. He's on the social-media site. In a , Saylor defended the company's crypto pursuits, which has involved in order to buy more bitcoin. MicroStrategy also recently filed for a program to sell $1 billion worth of additional stock, proceeds from which can be used to acquire bitcoin. "We rotated our shareholder base and transformed ourselves into a company that's able to sell enterprise software