MicroStrategy today announced it had purchased an additional 660 Bitcoin for an approximate $25m.
Revealed today by CEO Michael Saylor on Twitter, the digital assets were purchased at an average approximate price of $37,865 per Bitcoin from a period between December 30 2021 and January 31.
The business intelligence firm currently holds an incredible 125,051 Bitcoins, which are equivalent to $4.836 billion based on Bitcoin’s current price of $38,673.
MicroStrategy went on to reveal that its hefty holdings have an average purchase price of approximately $30,200 per BTC – with a total of $3.78 billion on the market-leading asset since its first buy.
Michael Saylor, who has become an outspoken ‘leader’ in the Bitcoin space thanks to his positive and bullish outlooks on the asset, has maintained his strong stance on Bitcoin since his first $235m BTC purchase back in August 2020.
Since then, MicroStrategy has continued to allocate capital into Bitcoin over the years via a series of purchases at the start of 2021, which included a mammoth $1bn purchase in February, a further $177m in August and a June pledge to raise further capital by offloading bonded debt.
Despite Bitcoin’s recent decline from a November high of $69k, MicroStrategy has managed to stay afloat amid inflation and regulation woes – partly thanks El Salvador’s continued push for Bitcoin adoption and the asset becoming more accepted within legacy financial markets through ETF’s and funds.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.