March 1 (Reuters) - Major bitcoin corporate backer
MicroStrategy Inc said on Monday it bought another 328
bitcoin for about $15 million in cash, swelling its holdings of
the cryptocurrency and sending the company's shares 7% higher in
The company, whose Chief Executive Officer Michael Saylor is
one of the most vocal proponents of bitcoin, bought
the cryptocurrency at an average price of about $45,710 each.
MicroStrategy, the world's largest publicly-traded business
intelligence company, owns close to 90,859 bitcoin, which were
acquired at an aggregate purchase price of about $2.19 billion
and an average purchase price of around $24,063 per bitcoin, it
said on Monday. https://bit.ly/2Mz4yj9
The company's bitcoin holdings are valued at about $4.38
billion, according to a Reuters calculation.
MicroStrategy spent last year steadily amassing bitcoin
after making its first investment in August.
The company had bought another 19,452 bitcoin last week,
worth around $1.03 billion.
MicroStrategy's latest shopping spree comes as major firms
including BNY Mellon, asset manager BlackRock Inc
and credit card giant Mastercard Inc, backed certain
cryptocurrencies, with Tesla Inc investing $1.5 billion
Bitcoin rose nearly 6% on Monday as risk assets rallied
after last week's bond rout cooled.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by
Krishna Chandra Eluri)