Since the beginning of August, Michael Saylor’s company has acquired 5,445 BTC at an average price of around $27k.
MicroStrategy has purchased $147.3 million worth of bitcoins. The business analytics software company reported that it purchased 5,445 BTC between August 1 and September 24 at an average rate of $27,053.
Michael Saylor’s company is the largest corporate bitcoin holder in the world. As of September 24, MicroStrategy owns 158,245 BTC purchased for $4.68 billion.
MicroStrategy buys the first cryptocurrency during both bullish and bearish periods in the market. Since mid-August, the bitcoin exchange rate has fallen below $29k, giving MicroStrategy the opportunity to reduce the average value of the coins it bought. Having purchased the asset at a rate of around $27k, the company reduced the average value of its bitcoins by $90 this time – from $29,672 per bitcoin (as of August 19) to $29,582.