MicroStrategy a business intelligence software company stated that the company now holds a total of 114,042 bitcoins (BTC), which were assimilated for a total of $3.16 billion and at an average price of $27,713 per BTC.

Nasdaq-listed MicroStrategy stated that it has bought around 8,957 BTC for $419.9 million in cash during the third quarter between July 1 and Sept 12.

The company publicized that it had purchased 3,907 BTC with an average cost of around $45,294 per coin.

CEO of the company, Michael Saylor has made BTC purchase a second mandate for his 32-year-old company. Its further business is developing business-intelligence software.

Investors are using it as a proxy as MicroStrategy holds a great amount of BTC. Shares have sunk from a high of $1,273 per share in March to $616 on Monday morning.