Microstrategy completes another $1B bitcoin buy

Having raised $1.03B for the purpose last week, Microstrategy (MSTR) announces the purchase of another 19,452 bitcoin (BTC-USD) for about $1.026B, or an average price of $52,765 per coin.That brings the company's stash to 90,531 bitcoins purchased for a total of $2.171B, or an average price of $23,985 per coin.CEO Michael Saylor: "The company now holds over 90,000 bitcoins, reaffirming our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value. We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional bitcoin."MSTR is up 6.9% premarket, recovering a hair from yesterday's 21% plunge.Bitcoin this morning is selling for $49.68K, having gone as high as $51.5K overnight following Square's disclosure of another $170M purchase.