Business intelligence company MicroStrategy increased its bitcoins (BTC) by 27% on Wednesday after buying another 19,452 tokens, bringing the total to 90,531 BTC.
The company reportedly announced on Wednesday that the coins were bought for around 52,765 dollars per coin, which is equivalent to spending a little over 1 billion dollars.
MicroStrategy CEO Michael Sailor said the company is now focused on two areas: expanding the analytics software company and buying more bitcoins.
“The company remains focused on our business strategy to expand our business analytics software and bitcoin acquisition and ownership,” said Sailor.
In the six months since MicroStrategy announced its first $ 250 million investment in bitcoin, the company has continued to spend over $ 4 billion on digital assets. Sailor said there are no plans to stop buying BTC at any time.
“The company currently owns over 90,000 bitcoins, which confirms our belief that bitcoin, as the most widely used cryptocurrency in the world, can serve as a reliable store with value. We will continue to pursue our strategy of obtaining bitcoins with cash surpluses, and we may from time to time, depending on market conditions, issue debt securities or shares in capital raising transactions to use the proceeds to purchase additional bitcoins.
The MicroStrategy acquisition exceeded previously reported figures, and the company announced that it will raise $ 900 million on February 17 to buy bitcoins.
Fong Le, president and chief financial officer of MicroStrategy, said the purchase of bitcoin will help raise his brand awareness as a software, as well as a sign of faith in the bitcoin network.
He said: “We believe that our bitcoin strategy, including bitcoin acquisitions and related activities to support the bitcoin network, complements our software business by raising awareness of our brand and providing opportunities to attract new customers.”