MicroStrategy's Bitcoin Stash Reached 130,000 Following Another $6M Purchase - GKnews.net

MicroStrategy’s Bitcoin Stash Reached 130,000 Following Another $6M Purchase



The largest BTC corporate holder – MicroStrategy – has stayed true to its word by making another bitcoin purchase earlier today.

The firm accumulated 301 coins at an average price below $20,000 and rounded up its entire stash to 130,000.

  • MicroStrategy’s founder and executive chairman – Michael Saylor – took it to Twitter today to announce the latest BTC purchase.
  • The company spent $6 million at an average price of $19,851 per bitcoin to acquire 301 coins, bringing its total holdings to precisely 130,000 BTC. Thus, the Nasdaq-listed business intelligence software reaffirmed its spot as the largest corporate holder of bitcoin.
  • It’s worth noting, though, that MicroStrategy sits on a massive unrealized loss on its BTC investments since it spent almost $4 billion to accumulate its stash at an average price of just over $30,000.
  • With BTC now trading at around $19,000, it means that the firm’s position is worth $2.5 billion – or a potential loss of $1.5 billion.
  • Nevertheless, MicroStrategy has vowed not to sell any of its bitcoin holdings, despite the dire situation. Even after Saylor stepped down as its CEO, the company has continued to accumulate more BTC and even plans to raise more money to do so.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.





Source link

Leave a Comment