MicroStrategy Bought $25 Million in Bitcoin Amid Slide
(Bloomberg) -- Enterprise software-maker and Bitcoin holder MicroStrategy Inc. said it bought roughly 660 additional coins while the price of the world's largest digital currency was falling.Â
The Tysons Corner, Virgina-based firm spent about $25 million on Bitcoin between Dec. 30, 2021 and Jan. 31, 2022, paying an average price of $37,865 per coin, according to a filing. That would make it MicroStrategy's smallest purchase since May, when it acquired 229 Bitcoin for $10 million.
The company held more than 125,000 Bitcoin as of Jan. 31, which were acquired at an average price of $30,200 per token, or an aggregate purchase price of $3.78 billion, according to the filing.
Bitcoin traded at $38,437 as of 5 p.m. New York time on Jan. 31, down from $47,298 on Dec. 30. It has reached an all-time high of about $69,000 in early November, and recently traded at about $38,940. Â
Shares of MicroStrategy rose 1.4% to $373 on Tuesday, after slumping 32% in January. The company will release fourth-quarter results after the stock market's close. Â Â
©2022 Bloomberg L.P.
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