Michael Saylor Buys $10M Worth of Bitcoin for MicroStrategy

Michael Saylor’s firm, MicroStrategy, has purchased an additional 480 Bitcoin (BTC) worth $10 million at an average price of $20,817. The company continues holding the distinction of being the largest corporate holder of Bitcoin (BTC). MicroStrategy Buys Another 480 BTC In an SEC filing on Wednesday, business intelligence firm MicroStrategy announced that it has added 480 BTC between May 3rd and June 28th for around $10 million in cash. The average price of the purchased Bitcoin (BTC) is approximately $20,817, including fees and expenses. MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin. As of 6/28/22 @MicroStrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin. $MSTRhttps://t.co/leQYTXn817 — Michael Saylor⚡️ (@saylor) June 29, 2022 Following this recent purchase, MicroStrategy now holds 129, 699 bitcoins acquired for 3.98 billion at an average price of $30,664 per bitcoin. Margin Call Doesn’t Worry Michael Saylor Just last week, the company’s CEO Michael Saylor revealed that the firm will double down on its Bitcoin strategy despite the plunge in the flagship cryptocurrency putting a huge dent in Saylor’s holdings. The company’s CTO Phong Lee further told shareholders last month that if the price of Bitcoin dropped below $21,000, the company would face a margin call on a $205 million loan that it took out in ...