MicroStrategy bought 660 more bitcoin for $25 million as the price dipped below $40,000 per coin.
The software intelligence company now holds over 125,000 BTC in its treasury, bought for $3.78 billion.
This is the first announced purchase of the year for the world’s largest corporate holder of bitcoin.
MicroStrategy, the software intelligence company that since 2020 has been accumulating bitcoin nonstop after its CEO Michael Saylor realized the digital currency’s store of value proposition, has made another millionaire purchase as the bitcoin price touches double-digit loss territory from the all-time highs set in November.
MicroStrategy added 660 BTC to its holdings for about $25 million in cash during the latest price dip in the peer-to-peer digital money between December 30 and January 31, averaging $37,865 per bitcoin, the company disclosed in a Form-8K filed with the Securities and Exchange Commission (SEC) on Tuesday.
The company now holds 125,051 BTC bought for an aggregate price of $3.78 billion, putting the average cost of each bitcoin purchased at around $30,200. At the time of writing, MicroStrategy’s bitcoin investment is over $1 billion in the green.
MicroStrategy’s relentless bitcoin accumulation strategy has made it top the list of corporations that hold bitcoin ever since it started acquiring BTC in 2020. On the other hand, second-place Tesla hasn’t added more bitcoin since its first purchase about one year ago. The electric car maker even sold 10% of its stash in the following months to test liquidity. Saylor’s company hasn’t ever sold any of its BTC –– and the chief executive has guaranteed they never will.
Saylor’s accumulation strategy also goes beyond MicroStrategy as the Bitcoin bull said in December that he personally owns over 17,000 bitcoin, worth roughly $680 million at current prices.
Bitcoin is currently trading close to $39,000 after briefly sliding below $33,000 last week.