MicroStrategy Buys Another $6M Worth Bitcoin, Now Holds 130,000 BTC
MicroStrategy, the largest BTC corporate holder, has stayed true to its word by making another bitcoin purchase earlier today.
The firm accumulated 301 coins at an average price below $20,000 and rounded up its entire stash to 130,000.
MicroStrategy’s founder and executive chairman, Michael Saylor, took it to Twitter today to announce the latest BTC purchase.
The company spent $6 million at an average price of $19,851 per bitcoin to acquire 301 coins, bringing its total holdings to precisely 130,000 BTC. Thus, the Nasdaq-listed business intelligence software reaffirmed its spot as the largest corporate holder of bitcoin.
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
It’s worth noting, though, that MicroStrategy sits on a massive unrealized loss on its BTC investments since it spent almost $4 billion to accumulate its stash at an average price of just over $30,000.
With BTC now trading at around $19,000, it means that the firm’s position is worth $2.5 billion – or a potential loss of $1.5 billion.
Nevertheless, MicroStrategy has vowed not to sell any of its bitcoin holdings, despite the dire situation. Even after Saylor stepped down as its CEO, the company has continued to accumulate more BTC and even plans to raise more money to do so.
