Investing

Microstrategy Bought 301 BTC at an Average Price of $19,851 in the Bear Market

Microstrategy bought 301 Bitcoins between 2nd August 2022 to 20th September 2022 according to a recent SEC filing. The software firm is seen by many as a proxy for Bitcoin driven by ex-CEO Michael Saylor’s vision and ideals. The average purchase price was $19,851 inclusive of fees and expenses.

MSTR Purchases More Bitcoin:

  • Microstrategy announced its purchase of 301 BTC via a recent filing. The average price for the purchase was significantly lower than their overall average holding price of $30,369/BTC.
  • Michael Saylor had recently stepped down from the CEO role to focus on the bitcoin acquisition strategy of the firm.
  • The company’s bitcoin holdings inclusive of its subsidiaries stood at 130,000 BTC worth $3.98 billion.
  • The company had previously stated it might be looking to fund bitcoin purchases using cash proceeds from selling its stock.

This article originally appeared on The Tokenist

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