MicroStrategy Buys $25 Million Worth of Bitcoin amid Recent Slide

• MicroStrategy added to its Bitcoin holdings, purchasing 660 units of the cryptocurrency for $25 million

• The Software-maker reportedly purchase the cryptocurrency between December 20, 2021, and January 31, 2022, for an average price of $37,865

• The company now holds 125,051 units of the flagship cryptocurrency, worth about $4.8 billion in today’s market

One of the world’s largest institutional investors of Bitcoin MicroStrategy has announced that it purchased more Bitcoin following the recent crash of the cryptocurrency market in January.

CEO of the software manufacturer, Michael Saylor took to Twitter to announce the latest purchase as the firm’s total BTC holdings reaches 125,051.
According to a form that was filed to the United States Securities and Exchange Commission on Tuesday, the recent purchase of 660 BTC was made at an average price of $37,885.

Going by today’s market price of the flagship cryptocurrency, the company now holds $4.8 million worth of Bitcoin
Since the company began investing in the world’s largest cryptocurrency, it has spent a total of $3.78 billion, buying at an average price of $30,200, including fees and expenses.

Read also: Facebook Closes Diem Crypto Project and Sells

This means that MicroStrategy has a profit of 26.82% from its Bitcoin investment, which amounts to $1.02 billion in unrealised gains.

The company reported losses of over $90 million in its latest earnings report and the loss was attributed to its inclusion of impairment losses on its Bitcoin investment following the crash of the price in 2021 4th quarter.

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