MicroStrategy Purchased More Bitcoin Recently, Almost Spent Total $4 Billion

MicroStrategy Purchased More Bitcoin Recently, Almost Spent Total $4 Billion. Thecompany founded by Michael Saylor recently released a news saying that they have purchased more Bitcoin.

MicroStrategy Purchased Additional $6 Million In Bitcoin

Between August 2 dan September 19 2022, MicroStrategy said that they have purchased $6 Million in Bitcoin. That comes out to approximately 301 additional Bitcoin that they have. They spend around $19,851 per bitcoin, the company said in a US SEC filing on Tuesday, 20 September 2022. The bitcoins were purchased using excess cash.

In the filing states that:

On September 20, 2022, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period between August 2, 2022 and September 19, 2022, MicroStrategy acquired approximately 301 bitcoins for approximately $6.0 million in cash, at an average price of approximately $19,851 per bitcoin, inclusive of fees and expenses. MicroStrategy purchased the bitcoins using excess cash. As of September 19, 2022, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 130,000 bitcoins, which were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,639 per bitcoin, inclusive of fees and expenses.

One Of The Largest Holders of Bitcoin

With this purchase, MicroStrategy now owns around 130,000 bitcoins, purchased at around $3.98 billion, at an average price of $30,639. It became one of the largest owners of bitcoin in the world.

Michael Saylor, recently stepped down as CEO of MicroStrategy to focus on acquiring more bitcoin. He has been one of the proponent of bitcoin in the world. MicroStrategy first bought bitcoin in August 1st, 2020 as a treasure reserve asset. Since then bitcoin have been up 65% and their stocks since then is also up by around 66%.

Read More: Alameda To Pay Back Its $200M Loan To Voyager Digital In Crypto 

Other wallet that own large amount of bitcoin is in crypto exchange Bitfinex, which holds 170,000 bitcoins. Binance has several wallets that hold around 6 figure BTC and one of the Binance reserve wallet holds 125,000 bitcoins.

Currently, Michael Saylor is being sued for tax fraud, the attorney general of Washington DC claims that Saylor has not paid taxes for more than 10 years.

For more info regarding Crypto Alpha and NFTs Alpha.  Always follow us on Twitter and Instagram.


Related post