Business intelligence firm MicroStrategy bought 314 bitcoin for $10 million on Friday, piling in a marketplace that was down as much as 15 percent only 1 day before.
CEO Michael Saylor stated in a tweet the coins cost an average of $31,808. He said the purchase conforms with MicroStrategy's treasury book policy.
This is MicroStrategy's initial treasury cushioning because devoting $600 million on the market-leading cryptocurrency after a debt raise.
MicroStrategy has purchased approximately 314 bitcoins for $10.0 million in cash in keeping with its Treasury Reserve Policy, in an average cost of roughly $31,808 per bitcoin. We now hold roughly 70,784 bitcoins. This is a developing story.