MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.
Read moreHow much bitcoin does MSTR own?
The company paid an average price of $49,229 per bitcoin, it said in a statement. As of Dec. 29, MicroStrategy held about 124,391 bitcoins purchased at an average price of $30,159. Bitcoin is currently trading about $47,500, valuing the trove at $5.9 billion .
Read moreIs MSTR a proxy for bitcoin?
MicroStrategy, which made bitcoin acquisition a second mandate earlier this year, had since become a sort of bitcoin-proxy investment for investors looking for exposure to crypto.
Read moreIs MicroStrategy linked to bitcoin?
The company held $2.41 billion of the cryptocurrency as of Sept. 30, up from $1.05 billion at the end of 2020. MicroStrategy also said it purchased bitcoins for $2.04 billion in cash for the first nine months of 2021 , up from $425 million in the prior-year period.
Read moreIs there a bitcoin ETF?
To date, there are no ETFs that are able to directly own Bitcoin . That’s because cryptocurrency and other digital currency trading is still unregulated by the Securities and Exchange Commission (SEC).
Read moreWhat is the most popular bitcoin ETF?
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