MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
The listed firm now holds 92,079 BTC bought for a total of $2.251 billion.
May 18, 2021 at 12:25 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2C5T6VXX5NBNHPU3FFMSLCVWR4.png)
MicroStrategy CEO Michael Saylor
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Publicly traded business intelligence firm MicroStrategy (NASDAQ: MSTR) is making the most of the downturn in bitcoin prices as it bought another 229 BTC for $10 million in cash.
- The purchase, which was disclosed by CEO Michael Saylor on Twitter and in an filing with the U.S. Securities and Exchange Commission Tuesday, was for an average price of $43,663 per bitcoin.
- MicroStrategy now holds 92,079 BTC bought for a total of $2.251 billion at an average price of about $24,450 per bitcoin.
- That means the firm has almost doubled its money since it started investing in the cryptocurrency, with the total holdings now worth $4.15 billion, according to CoinDesk's price calculator.
- Only five days ago, Saylor announced the purchase of 271 BTC for $15 million.
- The company has a policy of regularly buying bitcoin for its treasury reserves as a hedge against U.S. dollar inflation.
- At press time, a bitcoin is worth $45,141, roughly flat over 24 hours.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
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.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/TLCYKKQ27BBBLMEW7BPZ4ZVQOY.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4JNARJN3E5CA7MTOBOGRKV5FL4.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/2HZPBCXI6BCLBAGJOG3CXNEBHY.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/RWNZRP2WAVFLBACWSHX56K6FOM.jpg)