MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 5,050 bitcoin for about $242.9 million in cash during the third quarter period.

On Monday MicroStrategy CEO Michael Saylor announced that the firm purchased an additional 5,050 bitcoin for about $242.9 million in cash during the third quarter period.

The firm purchased the coins at an average price of $48,099 per bitcoin. Saylor tweeted, “As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin.”

The purchase fulfills tradecryptotalk.com/business/microstrategy-q2-earnings-call-michael-saylor-bitcoin”>Michael Saylor’s pledge, during the firm’s Q2 earnings call, to purchase more bitcoin, and comes just weeks after tradecryptotalk.com/business/microstrategy-buys-3907-more-bitcoin-as-total-investment-nears-3-billion”>MicroStrategy purchased an additional 3,907 bitcoin for about $177 million in cash.

During the third quarter of 2021 MicroStrategy purchased a total of 8,957 bitcoin for approximately $419.9 million. The average price per Bitcoin was $46,875.

To date, the company holds approximately 114,042 bitcoin, acquired at an aggregate purchase price of $3.16 billion and an average price per bitcoin of $27,713 per bitcoin, inclusive of fees and expenses. The firm owns more Bitcoin than any other public company in the world.

The purchase comes after MicroStrategy sold off its class A common stock in Jeffries, an ATM facility. During the third quarter, MicroStrategy sold an aggregate of 555,179 shares of the ATM facility at an average gross price per share of $727.64 for about $399.9 million.

MicroStrategy tradecryptotalk.com/business/microstrategys-bitcoin-accumulation-playbook”>has positioned itself as a leader in the Bitcoin space by advocating for and helping other firms, such as tradecryptotalk.com/markets/its-happening-tesla-buys-1-5-billion-of-bitcoin”>Tesla, to convert their balance sheets from dollars to Bitcoin.

Notably, MicroStrategy tradecryptotalk.com/business/michael-saylor-bitcoin-interview-etf-think-tank”>does not partake in any Bitcoin lending or invest in any other cryptocurrency. The firm’s consistent strategy has been to buy Bitcoin with cash, to self-custody it and to hodl it indefinitely.