According to an 8-K filing with the SEC, bitcoin’s largest corporate holder, MicroStrategy (MSTR), revealed on September 20 that it had acquired an additional 301 bitcoins for almost $6 million in cash.
The Bitcoin Hoarder
As of right now, MicroStrategy controls 0.62% of all Bitcoin (BTC) that will ever be mined. Michael Saylor, the company’s executive chairman, added that the firm had purchased the 301 bitcoins at an average price of $19,851 per bitcoin.
Per the filing, the total cost to acquire all of its bitcoin was over $3.98 billion, with an average cost to acquire one bitcoin being around $30,639.
With a total of 130,000 BTC, the corporation is one of the world’s largest holders of assets. Saylor evidently has a thing for whole numbers, as he purchased 301 BTC to bring his total to 130,000.
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
— Michael Saylor⚡️ (@saylor) September 20, 2022
Bitcoin Losses intensify
MicroStrategy President Phong Le will replace firm founder Michael Saylor as CEO, and the news of the acquisition comes after the public company announced the change in leadership in its most recent financial report.
Meanwhile, MicroStrategy reported a second-quarter loss of $917.8 million, attributed in part to the writedown of its bitcoin holdings as an intangible asset to their lowest value during the quarter.
MicroStrategy’s digital assets, equaling roughly 129,699 bitcoins, had a carrying value of $1.988 billion as of the end of the second quarter.
Saylor Bullish on Bitcoin
Vocal in his support for bitcoin, Saylor continues to serve as executive chairman of the company, where he is responsible for “innovation and long-term corporate strategy while continuing to provide oversight of the Company’s bitcoin acquisition strategy,” as stated in the Q2 report.
— Michael Saylor⚡️ (@saylor) September 19, 2022
In a recent tweet, Saylor posted a picture of the infamous laser eyes trend, further portraying his bullishness regarding bitcoin.
