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MicroStrategy Acquires Additional 660 Bitcoins Worth $15M

Saylor also revealed that he personally holds 17,732 Bitcoins that are worth $685 million

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MicroStrategy, the data analytics firm helmed by Michael Saylor, announced its latest Bitcoin on Tuesday morning.

In a regulatory filing on Tuesday, Virginia-based MicroStrategy, which owns more bitcoin than 100K Bitcoin disclosed it purchased approximately 660 bitcoins for about $25 million in cash, or $37,865 per coin, between December 30 and January 31.

The average BTC price of the purchase amounted to $37,865 per Bitcoin, including fees and expenses, the report notes. As of Jan. 31, MicroStrategy held about $3.78 billion worth of Bitcoin, they hold approximately 125,051 Bitcoin at the average purchase price of approximately $30,200 per BTC, inclusive of fees and expense.

The latest report comes shortly after the Securities and Exchange Commission  (SEC) reportedly rejected MicroStrategy’s Bitcoin accounting practices, causing MicroStrategy shares to plummet in mid-January.

The SEC specifically objected to MicroStrategy reporting data related to BTC purchases based on non-Generally Accepted Accounting Principles (GAAP). The authority argued that MicroStrategy used non-GAAP methods of calculating figures for its BTC buys excluding the “impact of share-based compensation expense and impairment losses and gains on sale from intangible assets.”

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 $38,498 according to CoinMarketCap after briefly climbing above $39,000 earlier today. Despite its recent modest recovery, the largest cryptocurrency is 2.4% up but still down 44.02% from its lifetime peak of $69,044.


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