MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
The listed firm now holds 92,079 BTC bought for a total of $2.251 billion.
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Publicly traded business intelligence firm MicroStrategy (NASDAQ: MSTR) is making the most of the downturn in bitcoin prices as it bought another 229 BTC for $10 million in cash.
- The purchase, which was disclosed by CEO Michael Saylor on Twitter and in an filing with the U.S. Securities and Exchange Commission Tuesday, was for an average price of $43,663 per bitcoin.
- MicroStrategy now holds 92,079 BTC bought for a total of $2.251 billion at an average price of about $24,450 per bitcoin.
- That means the firm has almost doubled its money since it started investing in the cryptocurrency, with the total holdings now worth $4.15 billion, according to CoinDesk's price calculator.
- Only five days ago, Saylor announced the purchase of 271 BTC for $15 million.
- The company has a policy of regularly buying bitcoin for its treasury reserves as a hedge against U.S. dollar inflation.
- At press time, a bitcoin is worth $45,141, roughly flat over 24 hours.
See also: Crypto Custodian Copper Raises $50M in Series B Round
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CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
