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MicroStrategy Buys Another $25 Million Worth of Bitcoin

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Tue, 1/02/2022 - 13:09
MicroStrategy Buys Another $25 Million Worth of Bitcoin
Cover image via U.Today
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Business intelligence firm MicroStrategy has purchased another $25 million worth of Bitcoin over the period from Dec. 30, 2021, to Jan. 31, 2022, according to the company's recent regulatory filing.

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It bought 660 Bitcoins at an average price of $37,865.

As of Jan. 31, 2022, MicroStrategy holds 125,051 Bitcoins that are worth approximately $4.8 billion.

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The company's average purchase price stands at $30,200 per one coin.

It announced its precious Bitcoin purchase of $94.2 million on Dec. 30, but there were no announcements in January.

MicroStrategy CEO Michael Saylor also recently revealed that he personally holds 17,732 Bitcoins that are worth $685 million at the time of writing.

Bitcoin is currently trading at $38,669 after briefly climbing above $39,000 earlier today. Despite its recent modest recovery, the largest cryptocurrency is still down 44.02% from its lifetime peak of $69,044.

Saylor told Bloomberg last month that his company would never sell Bitcoin despite the significant price drawdown:

We're only acquiring and holding bitcoin, right? That's our strategy.

As reported by U.Today, the permabull predicted that the Bitcoin price could eventually reach an eye-watering $6 million.

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