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Sunday, November 27, 2022

MicroStrategy Buys Another 1,914 Bitcoin Worth $94.2M of Bitcoin

Purchased approximately 1,914 Bitcoins for about $94.2 million in cash at an average price of $49,229 per Bitcoin.

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MicroStrategy, the data analytics firm managed by billionaire cryptocurrency bull Michael Saylor, announced its latest big investment in Bitcoin (BTC) on Thursday morning, said it bought additional 1,914 bitcoin.

In a regulatory filing on Thursday, Virginia-based MicroStrategy, which owns more bitcoin than any other corporation in the world, purchased  approximately 1,914 bitcoins between Dec. 9 and Dec. 29 for about $94.2 million in cash at an average price of $49,229 per bitcoin.

MicroStrategy’s latest investment comes as the price of bitcoin struggles near a two-month low after a nearly 10% selloff on Tuesday tanked prices about 17% below levels at the end of last month, putting bitcoin on track for its worst monthly performance since May.

The company says it now holds approximately 124,391 bitcoins, purchased for nearly $3.8 billion, or an average price of $30,159 per coin.

MicroStrategy raised approximately $1 billion from investors, including a batch of stock sales this month for about $565.78 per share.

Shares of MicroStrategy, which has also used newly issued debt to buy bitcoin during the investment, jumped about 1.4% Thursday morning and are up about 33% this year despite plunging more than 7% since the crypto sell-off on Tuesday.

 

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