MicroStrategy Buys Additional $25M Worth of Bitcoin During Market Dip

MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that has taken to accumulating bitcoin, said it bought approximately 660 bitcoins for around $25 million between Dec. 30, 2021, and Jan. 31, 2022.

The company paid an average price of $37,865 per bitcoin, it said in a statement.
The 660 BTC acquired across the 32-day period equates to an average of 21 a day. That's a markedly lower rate than in December, when the firm bought 1,914 in the 20 days ended Dec. 29 – an average of 96 a day – and that was itself slower than the 1,434 bitcoin it bought in the first nine days of the month.
The slowdown may point to MicroStrategy exercising greater caution in its bitcoin acquisitions given the market's recent downturn. The world's largest cryptocurrency by market capitalization hit a record high near $69,000 in November and is now trading around $39,000.
Tysons Corner, Va.-based MicroStrategy now holds a total of 125,051 bitcoins, valued at about $4.8 billion at the current bitcoin price of $38,700.
Shares of MicroStrategy have fallen around 34% over the last month.
CEO Michael Saylor has been insistent that the company has no plans to sell its bitcoin holdings and is invested the long term.

UPDATE (Feb. 1, 13:27 UTC): Corrects dates in the first paragraph to Dec. 30, 2021 and Jan. 31, 2022.

UPDATE (Feb. 1, 14:39 UTC): Adds rate of purchases in the second and third bullet points.

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