MicroStrategy buys the dip, adding 660 more BTC to its reserve ๐จ This article is 3 years old...
MicroStrategy buys the dip, adding 660 more BTC to its reserve
MicroStrategy has yet again defied the market downturn, adding another batch of Bitcoin to its reserves.
1 min read
Updated: Feb. 1, 2022 at 3:38 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
In its first major purchase of the year, MicroStrategy added 660 additional BTC to its reserves, which currently holds over 125,000 BTC.
MicroStrategy’s doubles down on Bitcoin following conference announcement
According to the latest Form 8-K document filed with the SEC, MicroStrategy purchased 660 BTC between December 30th, 2021, and January 31st, 2022. The company paid $25 million for its latest purchase, at an average price of approximately $37,865 per Bitcoin.
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy
— Michael Saylorโก๏ธ (@saylor) February 1, 2022
MicroStrategy now holds 125,051 BTC, which it acquired at an aggregate purchase price of $3.78 billion an average purchase price of $30,200 per Bitcoin. With Bitcoin standing at around $38,500 at press time, this latest purchase means that MicroStrategy is still in profit, despite the recent market downturn.
The purchase marked the beginning of the Bitcoin for Corporations conference MicroStrategy announced last week. The virtual event will see the NASDAQ-listed company educate corporations and financial institutions on how to integrate cryptocurrencies into their operations.
If you are a corporation interested in integrating #bitcoin into your products, services or balance sheet, join us next week. You will hear from experts in bitcoin strategy, treasury, accounting, law, technology, trading, custody, payments, & banking.https://t.co/V9fIkv633q
— Michael Saylorโก๏ธ (@saylor) January 30, 2022
The event, set to take place on February 1st and 2nd, will also explore the benefits of having Bitcoin on corporate balance sheets, its CEO Michael Saylor said on Sunday.
Aside from Saylor himself, other notable speakers at the conference will include Jack Dorsey, the co-founder of Twitter, Aubrey Strobel, the head of communications at Lolli, and Phong Le, the CFO of MicroStrategy, among others.
The first edition of the Bitcoin for Corporations conference was a resounding success. According to Saylor, last year’s event attracted more CEOs than any MicroStrategy event ever did.
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Andjela Radmilac
Armed with a classical education and an eye for news, Andjela dove head deep into the crypto industry in 2018 after spending years covering politics.
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MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Michael Saylor is the Executive Chairman, founder, and principal shareholder of MicroStrategy.
