MicroStrategy, the software intelligence firm turned Bitcoin standard bearer, has accumulated 229 bitcoin for a total price of $10 million, it announced today.
With the bitcoin price dipping by more than 22% over the last week, it appears the firm saw this as an opportunity to stack more bitcoin at a relatively low price. Its average purchase price for this latest round was about $43,663 per bitcoin, according to a tweet from CEO Michael Saylor. This gives the firm a total of about 92,079 bitcoin (more than 0.4% of all the BTC that will ever exist), purchased at an average price of $24,450 per bitcoin. At the time of this writing, the bitcoin price is at about $43,000.
As a private entity leading the speculative attack on the dollar, MicroStrategy has seen its strategy pay off. It reported first quarter revenues of $122.9 million and its equity increased by more than 380% since adopting a bitcoin standard. And investors have remained excited about the strategy.
MicroStrategy currently leads all publicly-traded companies in bitcoin holdings by a wide margin, according to Bitcoin Treasuries. It has more than twice as many bitcoin as the next-largest HODLer, Tesla, which holds 43,200 BTC on its balance sheet.