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Saylor: MicroStrategy Buys 2.5K More Bitcoin; $4B Spent in Total

by BSCN

December 28, 2022

Michael Saylor tweeted that MicroStrategy has purchased 2,500 more Bitcoin, bringing the company's holdings up to 132,500 $BTC. What a bull!

MicroStrategy Holds 132,500 BTC

Cue the “short signal” jokes. MicroStrategy Co-Founder Michael Saylor says the company has purchased another 2,500 Bitcoin, bringing its holdings up to 132,500 $BTC.

The Bitcoin ultra-bull made the announcement on Twitter on Dec. 28, linking to the relevant U.S. Securities and Exchange Commission filing.

MicroStrategy has increased its #Bitcoin Holdings by ~2,500 #BTC. As of 12/27/22 @MicroStrategy holds ~132,500 bitcoin acquired for ~$4.03 billion at an average price of ~$30,397 per bitcoin. $MSTR https://t.co/lcMeULcGQk
— Michael Saylor⚡️ (@saylor) December 28, 2022

Saylor said in total, MicroStrategy has spent slightly more than $4 billion on Bitcoin, with an average purchase price of $30,397.

For those doing the math at home, MicroStrategy’s Bitcoin holdings are worth about $2.2 billion at current market rates, meaning the investment has produced a loss of nearly 50%.

Would Saylor have been better off holding a memecoin instead, like Dogecoin, Baby Doge Coin or Rich Quack? See how they matched up here!

What is Bitcoin:

Bitcoin is the first cryptocurrency to spring into existence in 2009 as a result of a whitepaper written by Satoshi Nakamoto that conceptualized the token and network in 2008. Since then, the token has grown to find a place in the portfolio of several eminent investors and has also earned the ‘Digital Gold’ referring to its utility as a store of value.