December 2, 2023

MicroStrategy spent $10 million to buy 480 BTC

Analytics software provider MicroStrategy purchased an additional 480 BTC at an average price of about $20,817.This was reported byMichael Saylor, founder and CEO of the company.

According to Saylor, as of June 28, MicroStrategy owns 129,699 BTC, purchased for $3.98 billion at an average price of $30,664.

Against the background of the collapse of the first cryptocurrency, the company’s “paper” loss from holding bitcoins exceeded $1 billion.

Saylor said in June that MicroStrategy would continuego for digital gold even under poor market conditions, as the firm's investment strategy provides for volatility and adverse conditions.

The CEO of an analytics software provider is convinced that this approach will provide the company with a "bright future" for the coming years.

MicroStrategy received a $205 million loan in Marchto buy cryptocurrencies. Sailor previously said that bitcoin would need to fall below $3,562 for the company to run out of digital assets to meet its obligations.