MicroStrategy Buys $243 Million More Bitcoin

Top corporate Bitcoin (BTC) holder MicroStrategy acquired another $243 million worth of Bitcoin on Jan. 13.

MicroStrategy’s filings with the U.S. Securities and Exchange Commission (SEC) show that the company paid an average price of approximately $95,972 for the latest addition to its Bitcoin reserves.

At the time of writing, Bitcoin is has climbed back up above $91,000 after having dipped below $90,000 earlier this morning. It’s lost 3.4% since this time yesterday and is trading 10% lower than it was last week, according to CoinGecko data.

The filing also reveals that MicroStrategy currently holds approximately 450,000 BTC, acquired at an average price of $62,691 per Bitcoin, including fees and expenses. The aggregate purchase price is about $28.2 billion, over 45.5% lower than the current value of Bitcoin, which is $41.04 billion.

As of press time, MicroStrategy shares change hands at $328. This is 30.65% lower than the price of nearly $474 reported on Nov. 20 when the shares were trading at their highest.

Just about a week ago, MicroStrategy acquired another $101 million worth of Bitcoin, equivalent to 1,070 BTC at an average price of $94,004. Still, recent analysis indicates that the firm’s shares plummeted aggressively despite Bitcoin rallying and its growing Bitcoin coffers.

MicroStrategy is a publicly traded business intelligence company founded in 1989. In 2020, it pivoted to begin acquiring as much Bitcoin as possible. The company now holds well over 1% of all Bitcoin that will ever exist and is well underway in its pursuit of 2%.

Years after MicroStrategy pioneered large-scale corporate Bitcoin, the strategy started picking up steam among other companies.

Other holders include electric vehicle manufacturer Tesla, financial services conglomerate Block, video streaming platform Rumble, Cannabis company LEEF Brands, medical technology company Semler Scientific and marketing technology solutions firm Banzai.

Edited by Stacy Elliott.