Michael Saylor is the CEO of MicroStrategy.
Joe Raedle is a photographer.
MicroStrategy, led by Michael Saylor, has been buying more and more of the leading digital currency.
In the fourth quarter of the year, the company bought 7,002 bitcoins at a cost of $414 million. That brings the total to 121,044.
It paid an average of $59,187 per bitcoin during a time when the coin rallied. The SEC's approval of the first bitcoin futures exchange traded fund lifted the price of the digital currency. On November 10, it hit a record high of 69,044, but has retreated to trade at $56,959 on Monday.
MicroStrategy and its CEO Saylor have been steadfast in their vow to keep building theirbitcoin stockpile for years to come despite the price moves.
Saylor told CNBC that the company will continue to acquire bitcoin quarter by quarter, time to time, either with cash flows or with debt or with equity.
The average price for a token is $29,534. The holding is worth about $6.89 billion at current prices, but the company has to spend about $3.57 billion to purchase it.
MicroStrategy recorded a $754 million impairment loss on its holdings in the most recent earnings report. The figure may have changed as a result of the rally.
MicroStrategy's stock was up 2.83% in Monday morning trading, and has risen 75% this year.
MicroStrategy is seen as a leader in making big bets on the virtual currency. According to the report, Musk's electric-car maker holds 42,902 bitcoins worth $2.45 billion. Jack Dorsey's digital payments company Square has 8,027 bitcoins valued at $450 million, while Mike Novogratz' group has 6,400 bitcoins priced at $923 million.
Business Insider has an original article.
