MicroStrategy buys the dip by purchasing 660 Bitcoin for $25MBy Cointelegraph (contrib. Fatstack)
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. . . .