- MicroStrategy bought an additional 205 bitcoins at an average price of $48,888 per coin.
- The company’s latest $10 million bitcoin bet takes its total holdings to about 91,065 bitcoins.
- The value of MicroStrategy’s total bitcoin holdings amounts to about $4.4 billion as of Friday.
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The publicly-traded business intelligence company revealed an additional $10 million bitcoin bet in a filing registered with the Securities and Exchange Commission on Friday.
The company said it bought about 205 bitcoins at an average price of $48,888 per coin, inclusive of fees and expenses.
As of March 5, MicroStrategy holds about 91,065 bitcoins that were purchased for $2.2 billion at an average price of $24,119 per coin. The total value of its bitcoin holding at the time of writing would equate to $4.4 billion.
The price of bitcoin hovered around $48,325 on Friday. Its price has fallen 8% in the past week, alongside rises in bond yields, but is still up 70% year-to-date. “Bitcoin remains highly correlated with bond prices,” said Edward Moya, a senior market analyst at OANDA. “The bond market selloff is showing some signs of stability and that could mean the bitcoin pullback is nearing its end.”
Shares in MicroStrategy are up 64% year-to-date.