MicroStrategy Buys 14,620 Bitcoin (BTC) For $615,700,000
Business intelligence firm MicroStrategy announced the purchase of over 14,620 Bitcoin on December 26th, worth $615.7 million. As revealed by the company’s former CEO and Bitcoin evangelist Michael Saylor via X on Wednesday, MicroStrategy paid an average of $42,110 for its latest crypto haul accumulated.
- MicroStrategy buys 14,620 more bitcoins for $615.7 million.
- Adds to the position built over the past 3 years at ~$31,168 per BTC average.
- Now holds 189,150 Bitcoin valued at $5.9 billion total.
Read more: Cathie Wood Bullish On Bitcoin ETF Approval, Says BTC Will Replace Gold
MicroStrategy’s Bitcoin Stash now has 189,150 BTC
MicroStrategy first began purchasing bitcoin in August 2020 at a bargain-basement price of around $10,419 as a Treasury reserve asset to hedge against inflation and escape low-yielding cash. The company has seized on pullbacks ever since to keep accumulating, whatever the price levels may be.
In total, over 33 individual buys spaced across more than three years have amassed a stack of 189,150 Bitcoin. The total acquisition was done for $5.9 billion, purchased at an impressively low average cost basis of $31,168.
According to the data from Saylor Tracker, the current value of MicroStrategy’s Bitcoin portfolio stands at $8.14 billion. The holdings have now appreciated and stand at an unrealized profit of 36.97%. This is equivalent to over $2.1 billion at press time.
The company’s last BTC purchase was on November 30, 2023. MicroStrategy acquired 14,620 BTC on that day for a reported cost of $615 million. The single purchase alone stands at an unrealized profit of $11.8 million at press time. BTC has surged by 155.2% year-to-date, according to CoinGecko data. Bitcoin is currently hovering around $42,800, up from a 24-hour low of $41,820.
