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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.
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.
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- 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
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