MicroStrategy, the company co-founded by Michael Saylor, has announced that it has made further purchases of Bitcoin since November 1st. According to today’s report, the company purchased approximately 2,395 bitcoins for a total of approximately $42.8 million in cash. The purchases were made by MicroStrategy LLC, a subsidiary of the company, at an average price of approximately $17,871 per unit.
In a filing, MicroStrategy stated that it has increased its holdings of Bitcoin by 2,500, going from approximately 130,000 bitcoins on October 31st, 2022 to approximately 132,500 bitcoins on December 27th, 2022. The software company also revealed that the bitcoins it holds were “acquired at an aggregate purchase price of approximately $4.03 billion and at an average purchase price of approximately $30,397 per bitcoin, inclusive of fees and expenses.”
Data from Coinbase shows that the price of Bitcoin was trading at $16,650 at 8:45 AM ET (1:45 PM GMT) on Wednesday. In addition, the filing showed that Microstrategy raised $46.4 million in cash through a market sale of shares, selling 218,575 shares at an average price of $213.16. On Wednesday, Microstrategy’s shares traded roughly flat, at $148 per share.
As the adoption of Bitcoin continues to grow, it seems that companies like MicroStrategy are taking advantage of the opportunity to add the cryptocurrency to their portfolio. This latest purchase further solidifies the company’s commitment to Bitcoin as a long-term investment.
