Joe Raedle/Getty Images
Summary List PlacementMicroStrategy said Monday it spent roughly $489 million to purchase approximately 13,005 bitcoins for an average price of about $37,617 per coin. Bitcoin has fallen sharply in recent days and dropped 8% on Monday to $32,590.
Bitcoin bull Michael Saylor's company now holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per bitcoin.
The last time MicroStrategy announced a large bitcoin purchase was in February, when the company purchased approximately 19,452 bitcoins for about $1.026 billion in cash at an average price of $52,765 per bitcoin, inclusive of fees and expenses.
The recent dips in bitcoin haven't undermined Saylor's steadfast bullishness. Last week, MicroStrategy filed to sell as much as $1 billion in common shares in part to fund additional bitcoin purchases. The company also completed the sale of $500 million in high-yield senior secured notes, offered so it could buy more bitcoin.
Shares of MicroStrategy were down 7.65%, trading around $596, shortly after the opening bell on Monday.
NOW WATCH: Why scorpion venom is the most expensive liquid in the world
See Also:
- 10 things you need to know before the opening bell
- Regulators are reportedly sounding the alarm over stablecoins, fearing they are poorly understood and could be used to launder money
- The founder of a digital assets hedge fund breaks down 3 under-the-radar drivers that could shortly reboot the crypto bull market — and shares why El Salvador's acceptance of bitcoin as legal tender is 'extremely powerful'