MicroStrategy Buys More Bitcoin at Average Price Above $19,400

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MicroStrategy Inc. has bought more Bitcoin.The company paid $50 million for more of the world’s largest cryptocurrency at an average purchase price of $19,427, it said in a filing to the U.S. Securities and Exchange Commission. MicroStrategy now has about 40,824 Bitcoins in total, according to the filing.Bitcoin on Monday surpassed its December 2017 record high of $19,511. It neared $20,000 but wasn’t able to crack that key level, and after peaking at $19,914 has bounced around mostly in a range between $18,500 to $19,500 since. As of 10:20 a.m. in Hong Kong, it was at $18,746.MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now hold approximately 40,824 bitcoins.https://t.co/nwZcM9zAXZMicroStrategy has made waves with its Bitcoin purchases, which Chief Executive Officer Michael Saylor told Bloomberg in September are being done because…

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