MicroStrategy (MSTR) isn't finished buying bitcoin.
- This marks the second $10 million purchase this year, after MicroStrategy bought 314 BTC less than two weeks ago, per CoinDesk's prior reporting.
- MicroStrategy's most recent buys were executed at an average price of $33,810, suggesting that it may have accumulated the new coins after the market dropped following a price spike around social media frenzy stirred by Elon Musk's Twitter account.
- On the company's earnings call last week, CEO Michael Saylor said his company will "continue to actively manage" its balance sheet and "progressively acquire more bitcoin" at prices "that probably keep going up."
- MicroStrategy now holds 71,079 BTC, per the filing.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.