MicroStrategy Accumulates Another 7,002 Bitcoin, Total Holdings Surpass 121,000 BTC

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It has been a very exciting year for MicroStrategy. Ever since the company bought Bitcoin for its balance sheet, the company has set an example for others to follow.  MicroStrategy added another 7,000 BTC to its balance sheet through its recent acquisition, bringing the total to 121,044 BTC. 

MicroStrategy Keeps Buying The Dip

It is intriguing to see how this prominent company approaches the concept of Bitcoin today. While MicroStrategy has been tied to cryptocurrency for several years, the effects have accelerated in the past two years. Nevertheless, actively keeping BTC on its balance sheet remains a very risky decision, even if it appears to pay off so far. Bitcoin remains a volatile asset that can see its price decrease by 10% or more in a day, after all. 

Despite the BTC price regularly dipping in 2021, MicroStrategy isn’t changing its market approach. If anything, the company has become more bullish on acquiring the world’s leading cryptocurrency. Every dip seems to yield a new acquisition of BTC, which is fairly impressive. These purchases are reported to the SEC directly to ensure everything is above board.  It may not sway the SEC’s mind on crypto assets, though.

In the most recent filing, MicroStrategy confirms it acquires another 7,002 BTC. That represents $414.4 million in normal money, which is a stellar amount. In addition, the company paid approximately $59,187 per BTC, which is in line with current market prices. It is a rather large purchase, although one can be almost certain MicroStrategy isn’t the only company exploring this option these days. 

Unfortunately, that purchase isn’t helping Bitcoin to recover its lost momentum. The price remains near $57,000, putting MicroStrategy at a [temporary?] loss on its most recent purchase. However, the market shows signs of recovery, indicating the $60,000 price level isn’t out of reach yet. These are exciting times for the crypto industry, especially in the price department.

Total Holdings Surpass 121,000 BTC

For those unaware, MicroStrategy has accumulated a fair amount of BTC lately. The company makes this information public, yet not everyone wants to read financial documents. To date, the company holds over 121,000 – 121,044 to be exact – BTC in its balance sheet. Its average price per BTC is still $29.534 confirming that MicroStrategy has virtually doubled its money already.

While most companies would see that return on investment as a good time to sell, this company is different. It keeps doubling down on Bitcoin-buying efforts, as there is still more potential price gain to unlock. Whether the recent acquisition will double in price remains uncertain, although anything is possible. 


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