MicroStrategy: Another Dip, Another $10M Bitcoin Buy

PUBLISHED MAY 18 2021 – 8:14 AM
By: @Dan_Z_Palmer – Dan Palmer – https://coindesk.com

The listed firm now holds 92,079 BTC bought for a total of $2.251 billion.

Publicly traded business intelligence firm MicroStrategy (NASDAQ: MSTR) is making the most of the downturn in bitcoin (BTC, -2.2%) prices, buying another 229 BTC for $10 million in cash.

  • Disclosed by CEO Michael Saylor on Twitter and in an SEC filing Tuesday, the firm bought the cryptocurrency at an average price of $43,663 per bitcoin.
  • The purchase means MicroStrategy now holds 92,079 BTC bought for a total of $2.251 billion at an average price of approximately $24,450 per bitcoin.
  • That means the firm has almost doubled its money since it started investing in the cryptocurrency, with the total holdings now being worth $4.150 billion, according to CoinDesk’s price calculator.
  • Only five days ago, Saylor announced the purchase of 271 BTC for $15 million.
  • The company has a policy of regularly buying bitcoin for its treasury reserves as hedge against U.S. dollar inflation.
  • At press time, a bitcoin is worth $45,141, roughly flat over 24 hours.

Related Posts

Leave a Reply