MicroStrategy buys another 205 bitcoins, for $10 million

MicroStrategy Inc. disclosed that it just spent $10.0 million in cash to buy 205 bitcoins on Friday. The enterprise software and bitcoin holder said it paid an average price of $48,888 for each bitcoin, including fees. Bitcoin were recently down 1.1% at $47,909, while MicroStrategy shares shed 2.3% in premarket trading. The company said as of March 5, it holds about 91,064 bitcoins, which were acquired at total spend of $2.20 billion at an average price of about $24,119 per bitcoin. MicroStrategy’s stock has soared 96.9% over the past three months through Thursday, while bitcoin prices have rocketed 156.4% and the S&P 500 has gained 1.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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