{"id":16449,"date":"2021-05-18T14:15:34","date_gmt":"2021-05-18T14:15:34","guid":{"rendered":"http:\/\/ci0283688370002568"},"modified":"2021-05-18T14:15:34","modified_gmt":"2021-05-18T14:15:34","slug":"microstrategy-buys-229-bitcoin","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/microstrategy-buys-229-bitcoin","title":{"rendered":"MicroStrategy Buys Dip, Accumulates 229 More BTC For $10 Million"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>MicroStrategy, the software intelligence firm turned Bitcoin standard bearer, has accumulated 229 bitcoin for a total price of $10 million, <a href=\"https:\/\/www.microstrategy.com\/en\/investor-relations\/financial-documents\/microstrategy-acquires-additional-10m-in-bitcoin-at-average-price-of-43-663_05-18-2021\" target=\"_blank\" rel=\"noopener\">it announced today<\/a>.<\/p>\n<p>With the bitcoin price dipping by more than 22% over the last week, it appears the firm saw this as an opportunity to stack more bitcoin at a relatively low price. Its average purchase price for this latest round was about $43,663 per bitcoin, according to <a href=\"https:\/\/twitter.com\/michael_saylor\/status\/1394625128257007618\" target=\"_blank\" rel=\"noopener\">a tweet from CEO Michael Saylor<\/a>. This gives the firm a total of about 92,079 bitcoin (more than 0.4% of all the BTC that will ever exist), purchased at an average price of $24,450 per bitcoin. At the time of this writing, the bitcoin price is at about $43,000.<\/p>\n<p>Since <a href=\"https:\/\/bitcoinmagazine.com\/culture\/microstrategy-buys-0-1-percent-of-total-bitcoin-supply\">August 2020<\/a>, MicroStrategy has been steadily buying bitcoin at regular intervals and through various methods. It invested more than <a href=\"https:\/\/bitcoinmagazine.com\/markets\/microstrategy-buys-1-026-billion-of-bitcoin\">$1 billion to purchase more than 90,000 BTC<\/a> in February. It has <a href=\"https:\/\/bitcoinmagazine.com\/markets\/microstrategy-to-offer-another-600-million-of-convertible-notes-to-buy-more-bitcoin\">offered convertible senior notes<\/a> to raise money to buy BTC. And it has offered to <a href=\"https:\/\/bitcoinmagazine.com\/business\/microstrategy-is-paying-its-board-of-directors-in-bitcoin\">pay some members of its board of directors in bitcoin<\/a>.<\/p>\n<p>As a private entity leading the speculative attack on the dollar, MicroStrategy has seen its strategy pay off. It r<a href=\"https:\/\/bitcoinmagazine.com\/markets\/microstrategy-reports-major-growth-in-q1\">eported first quarter revenues of $122.9 million and its equity increased by more than 380% since adopting a bitcoin standard<\/a>. And <a href=\"https:\/\/bitcoinmagazine.com\/markets\/why-investors-are-so-excited-about-microstrategys-bitcoin-acquisition-plan\">investors have remained excited<\/a> about the strategy.<\/p>\n<p>MicroStrategy currently leads all publicly-traded companies in bitcoin holdings by a wide margin, according to <a href=\"https:\/\/bitcointreasuries.org\/\" target=\"_blank\" rel=\"noopener\">Bitcoin Treasuries<\/a>. It has more than twice as many bitcoin as the next-largest HODLer, Tesla, which holds 43,200 BTC on its balance sheet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Saylor\u2019s MicroStrategy has bought aggressively during the current bitcoin price dip, accumulating 229 BTC for $10 million.<\/p>\n","protected":false},"author":2705,"featured_media":216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[604,185,186],"class_list":["post-16449","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-corporate-treasury","tag-michael-saylor","tag-microstrategy"],"author_data":{"id":2705,"name":"Peter Chawaga","nicename":"peter-chawaga","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/peterc-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/microstrategy-buys-01-percent-of-all-bitcoin.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2705"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=16449"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/16449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/216"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=16449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=16449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=16449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}