Microstrategy continues to buy Bitcoin – Another $94.2 billion purchased in December

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According to an SEC filing today, Microstrategy added yet more bitcoin to the coffers during December. The 1,914 bitcoins purchased this month averaged out at approximately $49,229 per bitcoin.

Now the company has collected a massive hoard of 124,391 bitcoins, which was purchased for an aggregate purchase price of $3.75 billion, giving an average purchase price for each bitcoin of $30,159 after fees and other expenses.

The recent purchase comes quickly on the back of the last disclosed acquisition of 1,434 bitcoins between 29 November and 8 December.

According to Michael Sayler, Microstrategy is now looking at ways to earn a yield on its bitcoin hoard. One way is to lend some of its bitcoins to a third party in order to generate income. Another, is to form a partnership with a big bank or tech company, using its bitcoin as a type of ‘lien’.

Another option includes taking out a mortgage against the bitcoin. Whatever happens, Sayler has said that Microstrategy would be looking to develop “some kind of interesting application” in order to leverage its vast bitcoin holdings. 

Microstrategy has become the largest corporate holder of bitcoin. Michael Sayler, CEO, stated that it is:

“the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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