Microstrategy buys another 13K bitcoins for nearly $500M

Microstrategy (MSTR) quickly puts the funds from its recent junk bond sale to work, announcing the purchase of 13,005 bitcoins (BTC-USD) for $489M, or an average price of $37,617 each. That brings the company's total stash to 105,085 bitcoins purchased for an average price of $26,080 each, or a total acquisition cost of $2.741B.Company CEO Michael Saylor also took to Twitter to make the purchase announcement.Bitcoin over the weekend tumbled back to the bottom of its recent trading range, and is currently at $32,455. Microstrategy is lower by 7.7% in premarket action. In the news is China, whose Bitcoin crackdown this around seems more serious than the other 15-20 "bans" over the years.