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MicroStrategy buys $10-mn Bitcoin in middle of crypto's big chill

As of June 28, the company holds about 129,699 Bitcoin bought for about $3.98 billion, or $30,664 per coin, according to the filing

Photo: Bloomberg

Photo: Bloomberg

Michael Saylor’s Bitcoin-backed tech firm MicroStrategy Inc. bought another 480 coins worth about $10 million at the height of the crypto market collapse.

The firm purchased the coins between May 3 and June 28 for about $20,817 each, according to paperwork filed with the US Securities and Exchange Commission Wednesday.

Bitcoin was trading close to $38,000 on May 3, hovering at about $20,000 from June 14 until June 28, implying the bulk of MicroStrategy’s purchases would have taken place over these last two weeks.

The acquisition represents MicroStrategy’s smallest Bitcoin buy in over a year. Its most recent purchase was nearly 90 days

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First Published: Jun 29 2022 | 10:31 PM IST

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