Founder and CEO of MicroStrategy Michael Saylor announced the purchase of 1,900 more BTC at an average price below $50,000.
MicroStrategy, one of the largest Bitcoin holders has bought more of the largest cryptocurrency before the end of the year.
According to reports, the company bought an additional 1,914 bitcoins for about $94 million at an average price of around $49,200.
After this purchase, the firm holds a total of 124,391 bitcoins, which it bought for about $3.8 billion. What's surprising, the average price MicroStrategy has paid for all of its bitcoin to date is approximately $30,160.
The company announced buying an additional 7,000 BTC at the end of November for an average price of roughly $59,200.
Michael Saylor addressed the supply of Bitcoin, which is 21 million in an earnings call in July. He stressed that there is a “land grab” to buy as much as possible BTC.
According to Skew data, a total of 129,800 options contracts worth around $6 billion will expire on December 31. Note that industry professionals have indicated that price volatility has historically preceded monthly options expiration.