MicroStrategy Purchases 1,045 Bitcoin Worth $29.3 Million

MicroStrategy’s co-founder Michael Saylor announced an additional purchase of 1,045 Bitcoin (BTC). The company now holds 140,000 BTC.

According to a Form 8-K filing with the Securities and Exchange Commission (SEC), MicroStrategy now holds 140,000 BTC. It purchased an additional 1,045 BTC for $29.3 million between Mar. 24 to Apr. 4 at an average price of $28,016.

MicroStrategy Almost at a Break-Even Point of its Bitcoin Holding

The recent purchase brings down the average price of MicroStrategy’s holding to $29,803. Hence, the company is roughly down 4.14% on its BTC holdings based on the current market price of $28,568. 

Michael Saylor’s firm has invested in Bitcoin at an aggregate purchase price of approximately $4.17 billion. Considering this data, MicroStrategy has an approximate unrealized loss of $172.6 million.

Before this purchase, MicroStrategy acquired 6,455 BTC at an average price of $23,238 on Mar. 23. The firm has been accumulating Bitcoin since 2020. On Aug. 11, 2020, it first purchased 21,454 BTC at an average price of $11,652.84.

Saylor Buys Bitcoin While Government Sells

A digital asset manager, Eric Weiss, remarked on Saylor’s tweet that MicroStrategy is acquiring Bitcoin while the US government sells. He says, “Seems pretty obvious which strategy is better.”

BeInCrypto reported on Mar. 31 that the US government plans to sell 41,500 BTC from the Ross Ulbricht Silk Road case. The government already sold 9,800 BTC last month. 

The Justice Department seized 69,370 BTC in 2020 from a hacker who exploited the dark web marketplace – Silk Road. 

Got something to say about MicroStrategy or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.