MicroStrategy buys additional 301 Bitcoin for $6M MicroStrategy buys additional 301 Bitcoin for $6M
MicroStrategy now holds approximately 130,000 BTC that were purchased for roughly $3.8 billion.
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Updated: Sep. 20, 2022 at 6:38 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Business intelligence firm MicroStrategy bought 301 Bitcoins for $6 million at an average price of $19,851 per BTC, according to a Sept. 20 filing.
According to the filing, it made this purchase between Aug. 2 and Sept. 19.
MicroStrategy now holds approximately 130,000 BTC purchased for roughly $3.8 billion.
Based on its recent purchase, MicroStrategy holds almost 10x more BTC than the nearest public company holding the flagship asset, according to Coingecko data.
On Sept. 9, MicroStrategy revealed it could sell up to $500 million in its class A common stock to buy more Bitcoin.
MicroStrategy chairman Michael Saylor is a vocal Bitcoin supporter. He, alongside the firm, is facing charges from Washington DC over allegations of tax fraud.
Saylor recently stated that his firm’s stock had outperformed major tech companies like Google, Meta, Netflix, and Microsoft since it adopted the Bitcoin standard.
Since @MicroStrategy adopted the #Bitcoin Standard:
MSTR +67%, BTC +65%, GOOG +39%, AAPL +34%, ORCL +25%, MSFT +18%, S&P 500 +15%, IBM +5%, NASDAQ +4%, GOLD -17%, BOND -18%, AMZN -22%, CRM -23%, SILVER -32%, META -44%, SAP -47%, NFLX -50%
— Michael Saylor⚡️ (@saylor) September 17, 2022
Meanwhile, Bitcoin’s price rose by 2.1% in the last 24 hours to $19,124. The asset’s value had dipped to as low as $18,471 within the previous seven days.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
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.