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MicroStrategy Bitcoin Chronical: Buys dip again, totals 122,478 bitcoins

Updated: Aug 31, 2024
Published: Dec 9, 2021
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MicroStrategy, a well-known firm that provides business intelligence, mobile software, and cloud-based services, has bought the dips once again and now owns a total of 122,478 bitcoins. The Chief Executive Officer (CEO) of the firm, Michael Saylor, tweeted about this new development and shared the insides of a report to the SEC. 

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MicroStrategy buying BTC

MicroStrategy has been on a shopping spree for Bitcoin, always buying the world's biggest cryptocurrency during dips. On Thursday, Saylor tweeted about a new development in the firm's Bitcoin holding. In the tweet, Saylor shared the link for Form 8-K, which it presented to the United States Securities and Exchange Commission (SEC).

As per the insides of the report, MicroStrategy now owns a total of "122,478 bitcoins that were acquired at an aggregate purchase price of $3.66 billion and an average purchase price of approximately $29,861 per bitcoin, inclusive of fees and expenses."

Taking into account the average buying price of the firm, the initial investment of the firm is now above $6 billion, nearly doubling their investment in terms of fiat. 

"During the period between November 29, 2021, and December 8, 2021, the Company purchased approximately 1,434 bitcoins for approximately $82.4 million in cash, at an average price of approximately $57,477 per bitcoin, inclusive of fees and expenses," said the report.

Shopping spree continues

MicroStrategy has been buying Bitcoin for a long time. In August, the firm bought around $177 million worth BTC at over $45,294 each when the cryptocurrency was trading at nearly $50,000. 

On the other hand, MicroStrategy also bought another 5,050 Bitcoins for approximately $242.9 million in September. Furthermore, in late October, Saylor announced that his firm had bought around 8,957 bitcoins at an average price of $46,876 for each BTC.

Saylor also revealed that he is an active member of the Bitcoin Mining Council, and his support for the world's biggest cryptocurrency isn't limited to buying dips. The firm is the first publicly listed firm to invest in Bitcoin.

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