The software intelligence firm headed by Bitcoin bull Michael Saylor bought bitcoin once again in a $94 million investment.
- MicroStrategy bought bitcoin yet again, the third big purchase in one month.
- The software company acquired 1,914 BTC for $94.2 million.
- Saylor’s firm now holds about 124,391 bitcoin, the largest bitcoin holding among corporations worldwide.
Software intelligence company MicroStrategy has “bought the dip” yet again, adding 1,914 bitcoin to its holdings at an average price of $49,229 per BTC. The company now holds 124,391 bitcoin, the largest corporate bitcoin holdings besides trusts and exchange-traded funds (ETFs).
MicroStrategy said in a Thursday filing with the U.S. Securities and Exchange Commission (SEC) that it had acquired almost two thousand new bitcoin between Dec. 9 and Dec. 29 for $94.2 million.
“MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per #bitcoin. As of 12/29/21 we #hodl ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin,” MicroStrategy CEO Michael Saylor tweeted on Thursday to announce the purchase.
The purchase was funded in full by the selling of class A common stock by MicroStrategy during the same period. The company sold a total of 167,759 shares under a June open market sale agreement at an average price of $565.78 per share.
MicroStrategy’s bitcoin purchasing strategies are now quite common. The company indulges in new BTC every time the market bleeds, securing cheap bitcoin at a discounted price.
The acquisition comes after two significant purchases in the past month. On November 29, MicroStrategy announced it had purchased a massive $400 million worth of bitcoin, totaling 7,000 new BTC added to its holdings, right after the market began plunging. Under two weeks later, the software company added 1,434 more bitcoin to its stack in an $82 million purchase.
Source: Bitcoin magazine