In a latest development, MicroStrategy has purchased $615 million worth of Bitcoin. According to a Form 8-k filing published on its website, the firm purchased 14,620 BTCs at an average price of $42,110 per one.
The post further revealed that Microstrategy purchased the Bitcoin between November 30 and December 26, 2023. With this, the company now owns a total of 189,150 Bitcoin at an average price of $31,168. Similarly, Microstrategy has spent $5.89 billion on its company holdings which is currently worth $8.1 billion, and $2.2 billion on paper.
MicroStrategy is a regular investor in Bitcoin
Worthy of note that Microstrategy is one of the leading institutional holders of Bitcoin. Over the years, it has consistently invested in Bitcoin, even amid the uncertainty that greeted the crypto market in 2022 and early 2023. Barely six months ago, the firm acquired 12,333 Bitcoin worth $370 million. Then, Bitcoin traded below $30,000. The purchase, according to reports, was made at an average price of $28,136 per BTC.
In April, Microstrategy also spent over $29 million on 1,045 BTC. Then, the company’s CEO, Michael Saylor, revealed that the coins was purchased at $28,016 per unit. That’s not all. The firm also purchased 6,455 worth of BTC at $150 million.
Being one of the biggest institutional investors in Bitcoin, Microstrategy, in late 2022, committed $500 million stock sales into Bitcoin. As revealed, the firm sold its aggregated class A common stock to Cowen and Compay, and BTIG. Meanwhile, the funds generated from this sale are being explored to increase its financial exposure to the largest crypto by market cap.
Meanwhile, MicroStrategy has been purchasing Bitcoin since 2020. In early 2022, it purchased 660 worth of Bitcoin at $25 million. According to the firm, the purchase was made at $37, 865 per unit.
Last year, Binbits reported the lawsuit against the CEO of the firm, Saylor. According to the report, the Attorney General of Columbia, Karl Racine, in the filing, accused Saylor of tax evasion. The CEO was said to have leveraged MicroStrategy to evade $25 million worth of district taxes. More so, Racine accused Saylor of lying about his place of residence.
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