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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.
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
Danny Nelson
Danny was CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
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