MicroStrategy buys the dip by purchasing 660 Bitcoin for $25M

By  (contrib. Fatstack)
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MicroStrategy bought 660 Bitcoin in January versus around 3,300 BTC in December and 7,000 BTC in October and November.

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Major Bitcoin (BTC) investor ​​MicroStrategy has announced another major BTC purchase during a market dip to collect a total of 125,051 BTC as of Monday.

According to an official form with the United States Securities and Exchange Commission (SEC) filed on Tuesday, ​​MicroStrategy purchased 660 BTC between December 30, 2021, and January 31, 2022, for “approximately $25 million” in cash.

The average BTC price of the purchase amounted to $37,865 per BTC, including fees and expenses, the report notes. As of Jan. 31, MicroStrategy held about $3.78 billion worth of BTC at the average purchase price of approximately $30,200 per BTC, inclusive of fees and expenses.

The latest report comes shortly after the SEC reportedly rejected MicroStrategy’s Bitcoin accounting practices, causing MicroStrategy shares to plummet in mid-January. . . .