Michael Saylor's MicroStrategy Purchased Another $10M of Bitcoin Over Past Two Months
The company disclosed buying another 480 bitcoins, bringing total holdings to 129,699 coins.
Jun 29, 2022 at 12:20 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/5DNVTL4GEFHMVPJ4D6HSHSWBGY.jpg)
MicroStrategy Executive Director Michael Saylor snaps a photo of a cardboard cutout of himself at Bitcoin Miami 2022. (Danny Nelson/CoinDesk)
MicroStrategy (MSTR) on Wednesday morning said it purchased 480 bitcoins for about $10 million – an average price of $20,817 per coin – during the period from May 3 to June 28.
The new additions bring company holdings to 129,699 bitcoins (BTC) acquired for $3.98 billion, or an average cost of $30,664 each. At press time, bitcoin is changing hands at $20,100, making MSTR's stash worth approximately $2.6 billion.
During bitcoin's latest leg down to the $18,000-$21,000 range, there's been a lot of talk about whether MicroStrategy may begin to face margin calls, but company CEO Michael Saylor has dismissed the chatter and pledged to purchase additional coins as cash flow allowed.
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Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
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