MicroStrategy, the software company run by Michael Saylor, one of Bitcoin's most influential advocates, has made another multimillion purchase.
The company added 660 Bitcoins to its holdings for around $25 million in cash during the cryptocurrency’s latest price drop, with an average price of $37,865 per Bitcoin.
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy— Michael Saylor⚡️ (@saylor) February 1, 2022
MicroStrategy now holds 125,051 BTC purchased for a total value of $3.78 billion, putting the average cost of each bitcoin at around $30,200.
MicroStrategy's relentless bitcoin accumulation strategy has placed it at the top of the list of corporations that have held bitcoin since it began acquiring the cryptocurrency in 2020.
In addition to making purchases for the company he runs, Michael Saylor also personally follows the same accumulation strategy, having stated that he has in his name more than 17,000 bitcoins.