Microstrategy Buys 660 More Bitcoins – Total Holdings Rise to 125,051 BTC – Selected Bitcoin News

Nasdaq-listed Microstrategy has purchased 660 more Bitcoins at an average price of $37,865 each, bringing the company's total crypto holdings to 125,051 Bitcoins. "Our strategy with Bitcoin has been to buy and hold. To the extent we have excess cash flow or find other ways to raise money, we continue to put it into Bitcoin."

Microstrategy adds 660 Bitcoins to its treasury

Nasdaq-listed software company Microstrategy bought the dip again. CEO Michael Saylor tweeted on Tuesday:

Microstrategy purchased an additional 660 Bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per Bitcoin. As of 01/31/22, we are hoarding ~125,051 Bitcoins, purchased for ~$3.78 billion at an average price of ~$30,200 per Bitcoin.

According to the company's filing with the US Securities and Exchange Commission (SEC), the purchase was made between December 30, 2021 and January 31, 2022.

At the time of writing, the price of Bitcoin is $39,121.89 based on data from Bitcoin.com Markets. It is up almost 2% in the last 24 hours, 6.4% in the last 7 days, but down 18% in the last 30 days.

Microstrategy Chief Financial Officer Phong Le said last week:

Our strategy with Bitcoin was to buy and hold. So to the extent that we have excess cash flow or find other ways to raise money, we continue to put it into Bitcoin.

Last week, the SEC published its letters to Microstrategy regarding the company's accounting for Bitcoin. “We reject your adjustment for Bitcoin impairment in your non-GAAP measures,” the securities regulator wrote in a Dec. 3 letter. The SEC then asked Microstrategy to revise the way it discloses its Bitcoin holdings in future filings.

What do you think about Microstrategy buying more Bitcoins? Let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the interface between economics and cryptography.

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