MicroStrategy Buys Additional $25M Worth of Bitcoin During Market Dip

MicroStrategy (Nasdaq: MSTR), the business-intelligence software company that’s taken to accumulating bitcoin, said it bought approximately 660 bitcoins for around $25 million between Dec. 20, 2020 and Jan. 31, 2021.

The company paid an average price of $37,865 per bitcoin, it said in a statement.Tysons Corner, Virginia-based MicroStrategy now holds a total of 125,051 bitcoins, valued at about $4.8 billion at the current bitcoin price of $38,700.Shares of MicroStrategy have fallen around 34% over the last month.CEO Michael Saylor has been insistent that the company has no plans to sell its bitcoin holdings and is in for the long-term.

Read more: SEC Objects to MicroStrategy’s Accounting Adjustment for Its Bitcoin Holdings

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