The largest corporate holder of Bitcoin in the world – MicroStrategy – has stayed true to its vision by making another heavy bitcoin purchase earlier yesterday. The firm purchased 301 bitcoins at an average price below $20,000 and this new acquisition rounds up its entire stash to 130,000 Bitcoins.
MicroStrategy’s founder and executive chairman – Michael Saylor – announced the latest BTC purchase on Twitter. He tweeted “MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin . As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin”
This means the company spent $6 million at an average price of $19,851 per bitcoin to acquire 301 bitcoins which brings its total Bitcoin holdings to precisely 130,000 BTC. By this purchase, the Nasdaq-listed business intelligence software has reaffirmed its place as the largest corporate holder of bitcoin in the world.
However, MicroStrategy sits on a massive unrealized loss on its Bitcoin investments since it spent almost $4 billion to accumulate its current stash at an average price of just over $30,000. BTC now trades at around $19,000 and this means that the firm’s position is worth $2.5 billion. This means a potential loss of $1.5 billion.
Nevertheless, MicroStrategy has vowed not to sell any of its bitcoin holdings despite the dire market situation. Even after Michael Saylor stepped down as CEO, the company has continued to accumulate more BTC and has even revealed plans to raise more money to continue their Bitcoin purchase.
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