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.