MicroStrategy makes good on promise to buy another 17K Bitcoin

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MicroStrategy is competing with Grayscale in Bitcoin acquisition race according to Barry Silbert.

MicroStrategy acquired 16,796 more Bitcoin for $175 million, adding to its previous purchase of 21,454 BTC. Now, it owns 38,250 Bitcoin according to its latest SEC disclosure. This occurred on the same day that its board of directors made the cryptocurrency its primary treasury reserve asset. It was also indicated that the company could add to its Bitcoin reserves in the near future. The company’s CEO Michael J. Slayer also restated the same information in a tweet from earlier today.

Grayscale’s founder Barry Silbert reacted to the news with a tweet of his own, commenting on the race between the two companies in acquiring Bitcoin.

Eagle-eyed observers on Twitter noted that MicroStrategy appears to have been dollar-cost averaging at $11,111.11 per Bitcoin.

However, Grayscale’s Bitcoin Trust is far ahead in the game as it currently holds over 400,000 Bitcoin. MicroStrategy has some catching up to do.

Source: , CoinTelegraph

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