MicroStrategy’s Huge Bet on Bitcoin

Posted By Robert On Thursday, December 29th, 2022 With 0 Comments

MicroStrategy Inc. shares, the enterprise-software firm, better known in recent years as the largest corporate buyer of Bitcoin has hade a torrid 2022 year with its shares trading close to the lows. MicroStrategy have been a persistent net buyer of Bitcoin even as the price of Bitcoin has continued to fall.

All in, MicroStrategy held about 132,500 Bitcoin worth more than $4 billion as of Dec. 27 2022. The firm paid an average purchase price of $30,397 per Bitcoin.

MicroStrategy had over the pandemic years become well known for its Bitcoin acquisitions, led largely by Michael Saylor. Earlier this year Saylor relinquished that role and now serves as executive chairman at the firm and still leading its Bitcoin strategy.

MicroStrategy traded at around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

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