MicroStrategy Bets Another $10m on Bitcoin as Prices Slide

The analytics software provider MicroStrategy has purchased additional Bitcoin totaling $10 million. This follows a Friday disclosure to the U.S. Securities and Exchange Commission (SEC).

The document states that the company bought 314 BTC at an average price of $31,808 per coin.

“As of January 22, 2021, the company held about 70,784 BTC, which it had purchased for $1.136 billion at an average price of $16,035 per coin, including fees and other costs”, according to the SEC filing.

The total value of MicroStrategy’s cryptocurrency holdings is $2.35 billion, according to Bitcoin Treasuries. The company’s unrealized gains from its digital gold trades stand at roughly $1.2 billion.

Form-8-K_jan-22-2021 by ForkLog on Scribd

After reaching an all-time high for Bitcoin at the $42,000 level, the price of the leading cryptocurrency fell about 20% in two weeks. As of writing, Bitcoin is trading around $33,250, with a market capitalization of $618 billion and a dominance index of 63.3% (per CoinGecko).

In December MicroStrategy acquired 29,646 BTC for $650 million. The company funded the cryptocurrency purchase through the issue of convertible bonds.

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