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MicroStrategy Increases its BTC Reserves After Buying 480 BTC for $10 Million

ByLouis Adams

Jun 30, 2022 #Bitcoin
Reading time: < 1 minute

Analyst software provider MicroStrategy has just acquired an additional 480 BTC at an average price of around $20,817, the company founder and CEO Michael Saylor has announced via Twitter.

According to him, MicroStrategy owned 129,699 BTC as of June 28, which were purchased for $3.98 billion at an average price of $30,664.

The company’s “paper” loss from holding Bitcoins exceeded $1 billion amid the collapse of the crypto market.

Saylor said last month that MicroStrategy will continue to hod digital gold even under poor market conditions, as the firm’s investment strategy provides for volatility and adverse conditions.

He is convinced this approach will provide the company with a “bright future” for the coming years.