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The publicly listed firm Microstrategy purchased more bitcoin according to a tweet from the company’s chief executive officer Michael Saylor and a recent Securities and Exchange Commission (SEC) filing. The firm spent $15 million in cash and now holds 91,579 bitcoin in the company’s reserves.

Business Intelligence Firm Microstrategy Continues to Stack Bitcoin

Month after month, the company Microstrategy has continued to purchase bitcoin (BTC) and add it to the firm’s balance sheet. On Monday, the company revealed yet another BTC purchase when it disclosed to the SEC in a Form 8-K that it purchased 253 bitcoins for $15 million in cash.

The SEC filing notes:

Close to a Half a Billion More to Purchase to Cross the 100K Bitcoin Cache

The business intelligence (BI) firm still has 8,421 bitcoin to go to surpass 100,000 BTC in reserves. At current BTC prices that means the firm would have to spend another $496 million on bitcoin in order to jump over that number.

Besides large bitcoin funds like GBTC and a few other organizations, Microstrategy is a publicly listed firm with one of the largest stashes of BTC to date.

The web portal bitcointreasuries.org shows the vast number of companies now holding bitcoin on their balance sheets. With Microstrategy’s recent purchase, the website shows 1,373,294 BTC is under the possession of companies and corporate entities. The 1.3 million BTC represents 6.54% of the entire BTC supply.

Out of 21 million bitcoin, Microstrategy holds .436% of the entire supply and today, that stash is worth 2.4x the purchase value at $5.4 billion. The publicly listed electric car company holds approximately 48,000 BTC or roughly half of what Microstrategy has on its balance sheet.

After Microstrategy’s CEO Michael Saylor revealed the purchase on Twitter, the tweet got a lot of responses.

“About time man,†one person replied. “You need to up your orange pill dosage again.â€

What do you think about Microstrategy continuing its bitcoin buying spree announcing it bought an additional $15 million worth on Monday? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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