By Reuters Staff
2 Min Read
FILE PHOTO: Representation of the bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS/Dado Ruvic/Illustration
(Reuters) - Major bitcoin corporate backer MicroStrategy Inc said on Wednesday it bought another 19,452 bitcoin, worth around $1.03 billion, swelling its holdings of the cryptocurrency and sending the company’s shares 8% higher in premarket trading.
The company, whose Chief Executive Officer Michael Saylor is one of the most vocal proponents of bitcoin, bought the cryptocurrency in cash at an average price of about $52,765 each.
MicroStrategy, the world’s largest publicly traded business intelligence company, spent last year steadily amassing bitcoin after making its first investment in August.
Major bitcoin corporate backer MicroStrategy Inc said on Wednesday that it bought another 19,452 bitcoin, worth around $1.03bn, swelling its holdings of the cryptocurrency and sending the company’s shares eight percent higher in premarket trading.
The company, whose Chief Executive Officer Michael Saylor is one of the most vocal proponents of bitcoin, bought the cryptocurrency in cash at an average price of about $52,765 each.
MicroStrategy, the world’s largest publicly traded business intelligence company, spent last year steadily amassing bitcoin after making its first investment in August.
The company earlier this month engaged in an almost $1bn convertible note offering with the proceeds used for buying bitcoin.
Bitcoin collector MicroStrategy fills its wallet with another $1 billion metro.us - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from metro.us Daily Mail and Mail on Sunday newspapers.
Updated:
February 11, 2021 13:17 IST
Twitter top boss Jack Dorsey, who is also the chief executive of payments firm Square Inc, is a known bitcoin enthusiast and has said he believes the internet will have its own native currency
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In an interview with CNBC, Segal said Twitter had considered how it might pay vendors or employees using bitcoin, should they ask to transact using the virtual currency.
| Photo Credit: AP
Twitter top boss Jack Dorsey, who is also the chief executive of payments firm Square Inc, is a known bitcoin enthusiast and has said he believes the internet will have its own native currency