MicroStrategy once again increases its Bitcoin holdings by $489 million

According to an announcement on Monday, the business intelligence firm purchased 13,005 BTC at an average price of $37,617, totaling approximately $489 million.

Monday’s report pushed MicroStrategy’s Bitcoin balance sheet past the 100,000 mark, with the company now holding 105,085 BTC.

Based on the current BTC spot price, MicroStrategy's Bitcoin holdings are worth $2.74 billion, equivalent to an average of just over $26,000 per Bitcoin.

According to a company announcement, its MicroStrategy LLC subsidiary holds 92,079 BTC of the total Bitcoin balance.

Earlier in June, the company announced a $400 million bond offering to expand its Bitcoin holdings. As Cointelegraph previously reported, the junk bond offering was oversubscribed four times, leading the company to increase the debt offering to $500 million.

Without taking into account its latest purchase, MicroStrategy holds the most Bitcoin on its balance sheet of any public company with BTC holdings.

MicroStrategy holds more than twice as much Bitcoin as Elon Musk's Tesla.

Monday’s announcement came during a period of decline for Bitcoin and the entire cryptocurrency market. BTC prices briefly fell to the $32,000 price mark, and Ether (ETH) slipped below $2,000 for the first time since late May.

At press time, the cryptocurrency market capitalization is down more than 5% over the past 24 hours of trading and currently stands at $1.37 trillion.

Monday’s price drop coincided with news that China had reiterated its previous ban on public and private financial institutions from servicing cryptocurrency-related businesses.

The news also follows more crypto-related measures from Beijing that have also affected bitcoin miners.