MicroStrategy Ups Bitcoin Holdings to 132,500, Investing $44.6M in Two Months

• MicroStrategy, the business software vendor founded by crypto proponent Michael Saylor, has purchased an additional 2,395 bitcoins for $42.8 million between Nov. 1 and Dec. 21 through its MacroStrategy subsidiary.
• On Thursday, the company sold about 704 bitcoins for $11.8 million and then acquired an additional 810 bitcoins for $13.6 million, bringing its total holdings up to 132,500 bitcoins.
• The total cost of MicroStrategy’s acquisition of bitcoin since Nov. 1 is $44.6 million.

MicroStrategy, the business software vendor founded by crypto proponent Michael Saylor, has continued to add to its bitcoin (BTC) stockpile, purchasing about 2,395 bitcoins for $42.8 million between Nov. 1 and Dec. 21 through its MacroStrategy subsidiary, according to a filing with the Securities and Exchange Commission on Wednesday. This purchase marks the company’s ongoing commitment to acquiring bitcoin as an asset, bringing their total holdings up to 132,500 bitcoins.

The purchase was preceded by a sale of 704 bitcoins for $11.8 million last Thursday, with the company citing that the loss on the transaction would offset previous capital gains. This marks the first time MicroStrategy has sold bitcoin since it began acquiring the cryptocurrency in 2020. On Saturday, the company acquired an additional 810 bitcoins for $13.6 million, which further contributed to the company’s total bitcoin holdings. The total cost of MicroStrategy’s acquisition of bitcoin since Nov. 1 is $44.6 million.

The current market value of MicroStrategy’s investments in bitcoin is estimated to be $2.25 billion, a significant increase from their original purchase cost of $4 billion. Shares of MicroStrategy were up marginally in premarket trading, while the price of bitcoin remained little changed at about $16,700.

MicroStrategy’s decision to invest in bitcoin has been met with mixed reactions, with some arguing that it could be a risky move, while others applaud the company’s commitment to diversifying its portfolio. Regardless of the outcome, Michael Saylor and his team have made it clear that they are committed to investing in bitcoin and will continue to do so in the future.