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MicroStratety has added more Bitcoin to its stash
Business intelligence firm MicroStrategy has purchased another $25 million worth of Bitcoin over the period from Dec. 30, 2021, to Jan. 31, 2022, according to the company’s recent regulatory filing.
It bought 660 Bitcoins at an average price of $37,865.
As of Jan. 31, 2022, MicroStrategy holds 125,051 Bitcoins that are worth approximately $4.8 billion.
The company’s average purchase price stands at $30,200 per one coin.
It announced its precious Bitcoin purchase of $94.2 million on Dec. 30, but there were no announcements in January.
MicroStrategy CEO Michael Saylor also recently revealed that he personally holds 17,732 Bitcoins that are worth $685 million at the time of writing.
Bitcoin is currently trading at $38,669 after briefly climbing above $39,000 earlier today. Despite its recent modest recovery, the largest cryptocurrency is still down 44.02% from its lifetime peak of $69,044.
Saylor told Bloomberg last month that his company would never sell Bitcoin despite the significant price drawdown:
We’re only acquiring and holding bitcoin, right? That’s our strategy.
As reported by U.Today, the permabull predicted that the Bitcoin price could eventually reach an eye-watering $6 million.