MicroStrategy buys additional 301 BTC for $6 million

MicroStrategy buys additional 301 BTC for $6 million

MicroStrategy, the largest corporate buyer of Bitcoin, purchased an additional 301 BTC for $6 million at an average price of $19,851, the company's executive chairman Michael Saylor announced on Twitter.

This is the smallest crypto purchase in more than two years.

MicroStrategy now owns 0.62% of all the Bitcoin that will ever be mined. The company and its subsidiaries hold approximately 130,000 BTC, which were acquired for an aggregate purchase price of about $3.98 billion or $30,639 per token.

However, MicroStrategy's aggregate holdings have dropped in value by about $1.5 billion (38%) since the company first started buying Bitcoin in 2020.

Earlier this month, the company filed with the SEC to sell stock worth up to $500 million, with the proceeds potentially being used to buy more crypto.

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