The business intelligence giant led by Michael Sayer has spent $10 million to buy 480 more BTC. Thus, the firm’s total reserves are now closer to 130,000 bitcoins.
- Sailor took to Twitter on June 29 to outline the latest purchases made by his company. This NASDAQ-listed firm, valued at $10 million, secured 480 bitcoins.
- The average transaction price was $20,817. MicroStrategy’s total BTC holding has grown to 129,699, which has been achieved for just $4 billion (average price of $30,664).
MicroStrategy bought an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin, 6/28/22 . until @MicroStrategy Acquired ~129,699 bitcoins for ~$3.98 billion at an average price of ~$30,664 per bitcoin. $mstrhttps://t.co/leQYTXn817
— Michael Saylor⚡️ (@saylor) June 29, 2022
- This means that the company remains in the red on its bitcoin investments. With assets struggling to stay above $20,000, the full position of the microstrategy is now valued at $2.6 billion.
- In other words, the NASDAQ-listed giant sits at an unrealized loss of more than $1.4 billion.
- Nevertheless, Saylor remains as bullish as ever, predicting a future price tag of $1 million for the primary cryptocurrency. Furthermore, the recent turmoil has apparently not deterred him and his company as they promised to continue buying a greater portion of the assets.
- Previously, there were concerns that Microstrategy could face a margin call on its $205 million loan from Silvergate, which it bought more BTC from a few months ago. However, the company rubbished those rumours, assuring that it has more than enough bitcoin to maintain its position.
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