- MicroStrategy acquired 1,434 bitcoins between November 29 and December 8. at an average price of about $57,477.
- The company now holds a total of 122,478 bitcoins, with an average purchase price of about $29,861.
- CEO Michael Saylor continues to build his reputation as a bitcoin bull.
MicroStrategy bought the bitcoin dip.
The business intelligence company said it purchased 1,434 bitcoins for about $82.4 million between November 29 and December 8. The average price was approximately $57,477, for a total of about $82.4 million. Part of that purchase came during a brutal sell-off on December 4, when the price of bitcoin plunged more than 20%. Prices have risen since, but are still far off of their most recent highs of about $69,000.
The company said it now holds a total of 122,478 bitcoins purchased at an average price of about $29,861 per bitcoin. At a current price of about $49,000, MicroStrategy’s investment is worth about $6 billion.
CEO Michael Saylor, who famously lost $6 billion in a single day during the dot-com bubble, has emerged as a crypto icon and leader in the digital asset space.
“We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy,” said Saylor.