Share this article
MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury
CEO Michael Saylor bought the coins for an average price of $31,808.
By Danny Nelson
Updated Sep 14, 2021, 11:00 a.m. Published Jan 22, 2021, 2:33 p.m.
Make us preferred on Google
Business intelligence company MicroStrategy bought 314 bitcoin for $10 million on Friday, piling on in a market that was down as much as 15% only one day before.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- CEO Michael Saylor said in a tweet the coins cost an average of $31,808. He said the purchase conforms with MicroStrategy's treasury reserve policy.
- This is MicroStrategy's first treasury padding since splurging $600 million on the market-leading cryptocurrency following a debt raise.
MicroStrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We now hold approximately 70,784 bitcoins.https://t.co/zMJSH29bmC
— Michael Saylor⚡️ (@michael_saylor) January 22, 2021
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
XRP bulls lose $70 million as Ripple-linked token plunges 7%
Traders are watching $1.74 as near-term support, with $1.79–$1.82 now the key resistance zone.
What to know:
- XRP slid about 6.7 percent to trade near $1.75 as a bitcoin-led crypto selloff triggered heavy long liquidations rather than token-specific news.
- The breakdown below former support at $1.79 came on exceptional volume, flipping the $1.79–$1.82 zone into resistance and signaling institutional participation in the move.
- Traders now view $1.74–$1.75 as key short-term support, with a hold likely leading to consolidation and a break opening downside toward $1.72–$1.70.
Top Stories
