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Despite Market Crash, MicroStrategy Buys 301 Bitcoins Worth $6 Million

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MicroStrategy has done it again. The Virginia-based business software company has bought additional 301 Bitcoins worth around $6 million to its balance sheet.

According to a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday, MicroStrategy purchased 301 Bitcoins (BTC) between August 2 and September 19 for about $6 million.

The filing stated that the software firm that was co-founded by entrepreneur and Bitcoin advocate Michael Saylor purchased the world's largest cryptocurrency at an average price of $19,851 per coin.

This is the company’s first purchase since June, when it bought 480 Bitcoins worth around $10 million during that time. MicroStrategy, best known as the largest corporate buyer of Bitcoin, now has almost 130,000 Bitcoins, acquiring them for a total price of $3.98 billion, according to an 8-K filing with the SEC.

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