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MicroStrategy took advantage of the crypto sell-off to add 1,434 bitcoin to its stash in the last week
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MicroStrategy bought the bitcoin dip.
The business intelligence company said it purchased1,434 bitcoins for about $82.4 million between November 29 and December 8. The average price was approximately $57,477, for a total of about $82.4 million. Part of that purchase came during a brutal sell-off on December 4, when the price of bitcoin plunged more than 20%. Prices have risen since, but are still far off of their most recent highs of about $69,000.
The company said it now holds a total of 122,478 bitcoins purchased at an average price of about $29,861 per bitcoin. At a current price of about $49,000, MicroStrategy's investment is worth about $6 billion.
CEO Michael Saylor, who famously lost $6 billion in a single day
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Michael Saylor says bitcoin doesn't need Warren Buffett's support — and notes Microsoft has thrived without the investor's backing markets.businessinsider.com /3 years ago
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