MicroStrategy just spent $94 million to buy another 1,914 bitcoin, and its overall stake is now worth $5.9 billion

MicroStrategy just spent $94 million to buy another 1,914 bitcoin, and its overall stake is now worth $5.9 billion
  • MicroStrategy said Thursday it has purchased another 1,194 bitcoins, spending $94 million to do so.
  • Its bitcoin bull CEO, Michael Saylor, said the company now has 124,391 bitcoins and paid $3.75 billion for them.
  • Its stockpile was worth $5.9 billion as of Thursday.
  • said Thursday it loaded up on more bitcoin in December, as the cryptocurrency suffered its worst monthly price slump since the spring.

    CEO and bitcoin proponent Michael Saylor said in a tweet Thursday that the enterprise-analytics software company he co-founded purchased 1,194 bitcoins for $94.2 million in cash, at an average price of $49,229 each.

    "As of 12/29/21 we #hodl ~124,391 bitcoins," he wrote, using shorthand for "hold on for dear life," a term popular with cryptocurrency and meme stock investors who plan to stick firmly with their investments.

    He noted the company acquired those bitcoins for about $3.75 billion. That would indicate MicroStrategy has made more than $2 billion from its investment as its overall stash was worth $5.91 billion as of Thursday when bitcoin traded around $47,527.25.

    MicroStrategy purchased the additional bitcoins between December 9 and December 29, according to the company's filing with the Securities and Exchange Commission. Bitcoin's price suffered during that period, starting at above $50,000 then steadily pulling back to about $45,580 before recovering some ground.

    Bitcoin has lost 17% during December, on track for its when the world's most-traded cryptocurrency underwent a massive selloff of roughly 35%.

    Saylor has repeatedly said MicroStrategy will add bitcoin to its stockpile for years to come. The company for about $82.4 million between November 29 and December 8.

    Source

    Subscribe to get our top stories