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MicroStrategy Buys The Dip By Buying 660 Bitcoin For $25 Million

Major Bitcoin (BTC) investor MicroStrategy has announced another major BTC purchase during a market slump to rack up a total of 125,051 BTC as of Monday. According to an official form filed with the U.S. Securities and Exchange Commission (SEC) on Tuesday, MicroStrategy purchased 660 BTC between December 30, 2021 and January 31, 2022 for “about $25 million” in cash. The average BTC price of the purchase was $37,865 per BTC, including fees and expenses, the report said. As of January 31, MicroStrategy owned approximately $3.78 billion worth of BTC at an average purchase price of approximately $30,200 per BTC, including fees and expenses. MicroStrategy has bought another 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 01-01-22, we acquired #hodl ~125,051 bitcoins for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTR— Michael Saylor⚡️ (@saylor) Feb 1, 2022 The latest report comes shortly after the SEC reportedly rejected MicroStrategy’s Bitcoin accounting practices, causing MicroStrategy shares to plummet in mid-January. objected to MicroStrategy reporting data related to BTC purchases based on non-generally accepted accounting principles (GAAP). The authority argued that MicroStrategy used non-GAAP methods to calculate figures for its BTC purchases, excluding the “impact of stock-based compensation costs and impairment losses and gains on sales of intangibles.” the most recent BTC purchases by MicroStrategy. In December 2021, MicroStrategy announced two major BTC purchases, namely the purchase of 1,434 BTC from November 29 to December 9 at the average price of $57,477 per BTC and then 1,914 BTC from December 9 to December 29 at the average price of $ 49,229 per BTC. Previously, from October 1 to November 29, the company had purchased a whopping 7,002 BTC at the average price of $59,187 per BTC. of El Salvador continued to invest in BTC during a market decline in January. On January 21, El Salvador President Nayib Bukele announced that the Salvadoran state has purchased 410 BTC for $15 million, bringing the average price to about $36,585 per BTC.
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