- MicroStrategy continues to buy bitcoin for its corporate treasury, adding 850 bitcoin in January 2022 for $37.2 million. The company now holds about 190,000 bitcoin worth over $8 billion.
- MicroStrategy started buying bitcoin in 2020 to hold as a reserve asset on its balance sheet. In November 2021, it raised $750 million that could fund more bitcoin purchases.
- MicroStrategy paid an average of $43,663 per bitcoin in its January 2022 purchase. Bitcoin’s price fluctuated widely that month, nearing $49,000 at times amid the launch of the first U.S. spot bitcoin ETFs.
MicroStrategy, the business intelligence company led by CEO Michael Saylor, has continued accumulating bitcoin for its corporate treasury. The firm purchased 850 more bitcoin in January 2022 for $37.2 million, as revealed by Saylor in a recent tweet.
Background on MicroStrategy’s Bitcoin Purchases
MicroStrategy now holds approximately 190,000 bitcoin, worth over $8 billion at current prices. The company began buying bitcoin in 2020 as a reserve asset for its balance sheet, making it one of the first public companies to invest in the cryptocurrency.
In November 2021, MicroStrategy raised $750 million through a stock offering, which it said could fund further bitcoin purchases. By the end of December, it had sold 1 million shares of stock for $610 million.
The January 2022 Bitcoin Purchase
According to Saylor’s announcement, MicroStrategy paid an average price of $43,663 per bitcoin for its January buy. Bitcoin’s price fluctuated widely during that month, nearing $49,000 at times amid the launch of the first U.S. spot bitcoin ETFs.
MicroStrategy regularly discloses its bitcoin acquisitions and advocates other corporations holding bitcoin. The company is set to announce its fourth quarter 2021 financial results on February 8, which will likely include more details on its latest bitcoin purchase.
