MicroStrategy Acquires Additional 480 Bitcoins for $10 Million

MicroStrategy Acquires Additional 480 Bitcoins for $10 Million

The Business Intelligence company, MicroStrategy announced buying nearly 480 bitcoins for almost $10.0 million in cash. The purchasing was done at an average price of approx $20,817 per bitcoin, inclusive of fees and expenses.

The official blog reveals that the firm had made the purchase during the period between May 3, 2022, and June 28, 2022.

As of June 28, 2022, MicroStrategy and its subsidiaries held a total of 129,699 bitcoins, which were bought at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,664 per bitcoin, including fees and expenses.

Recently during the Bitcoin’s fall, witnessed in the range of $18,000-$21,000, it was speculated if MicroStrategy might begin to face margin calls. However, the firm’s CEO Michael Saylor had dismissed these rumours and pledged to purchase additional coins after cash flows were allowed.

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