MicroStrategy will continue to buy Bitcoin and will not sell its holdings.

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Investing.com – According to MicroStrategy Inc (NASDAQ:MSTR) CEO Michael Saylor, in an interview with CNBC on Tuesday, the company will continue to buy Bitcoin and has no plans to sell its holdings.

“The company’s strategy will not be to sell Bitcoin,” Saylor said, adding that the company “will buy Bitcoin every quarter.” He emphasized that “concerns about the company selling Bitcoin are unfounded.”

These comments come after MicroStrategy recently conducted a stock sale, during which the company sold 616,715 Class A common shares through its market offering program from February 2 to February 8, raising net proceeds of $89.5 million.

During the same period, MicroStrategy used these funds to purchase 1,142 Bitcoin, at a total cost of approximately $90 million including fees and expenses, with an average price of $78,815 per Bitcoin.

As of February 8, the company held 714,644 Bitcoin, with a total purchase price of $54.35 billion, and an average acquisition cost of $76,056 per Bitcoin. This is below the current price of $69,000.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

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