The company now has 91,579 bitcoins on its balance sheet.

MicroStrategy (NASDAQ: MSTR) the listed business intelligence company led by bitcoin evangelist Michael Saylor has invested another $15 million in cash to buy bitcoin. The purchase came to light in an SEC Form 8-K filing.

MicroStrategy’s BTC pile

The company revealed in its filing:

“On April 5, 2021, MicroStrategy Incorporated announced that it had purchased approximately 253 bitcoins for $15.0 million in cash, at an average price of approximately $59,339 per bitcoin, inclusive of fees and expenses.”

“As of April 5, 2021, the Company holds approximately 91,579 bitcoins that were acquired at an aggregate purchase price of $2.226 billion and an average purchase price of approximately $24,311 per bitcoin, inclusive of fees and expenses.” (MicroStrategy)

At today’s bitcoin price of $58,539 the company’s holding is worth approximately $5.36 billion.

That implies a paper profit of over $3 billion, earned in just 9 months. The company commenced its bitcoin purchases in August 2020.

In contrast, the company reported a net income of just $34.36 million for the full year of 2019.

Bitcoin market cap

MicroStrategy has been scaling up its bitcoin bets after its initial foray in August 2020. Saylor has so far been on the right side of the cryptocurrency’s price move.

The market cap of bitcoin hit $1.1 trillion on Monday while the aggregate cryptocurrency market capitalization achieved an all-time high peak of $2 trillion.

Meanwhile, according to MarketWatch, bitcoin has delivered a return of 720.70% over the past one year, and is up nearly 102% year-to-date.

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