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Michael Saylor’s MicroStrategy doubles down on Bitcoin bet with new $10 million purchase
MicroStrategy now holds an aggregate of approximately 129,699 Bitcoins, which were acquired for about $3.98 billion, the company said.
BY
Taylor Locke
MicroStrategy CEO Michael Saylor speaks at the DC Blockchain Summit on May 24, 2022. Valerie Plesch—Bloomberg/Getty Images
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Bitcoin, the largest cryptocurrency by market value, might be down 70% from its all-time high, but MicroStrategy and its CEO, Michael Saylor, remain bullish.
On Wednesday, MicroStrategy disclosed that it had purchased 480 Bitcoins for about $10 million from May 3 to June 28. MicroStrategy now holds an aggregate of approximately 129,699 Bitcoins, which were acquired for about $3.98 billion, the company said.
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Bitcoin, the largest cryptocurrency by market value, might be down 70% from its all-time high, but MicroStrategy and its CEO, Michael Saylor, remain bullish.
On Wednesday, MicroStrategy disclosed that it had purchased 480 Bitcoins for about $10 million from May 3 to June 28. MicroStrategy now holds an aggregate of approximately 129,699 Bitcoins, which were acquired for about $3.98 billion, the company said.
MicroStrategy has purchased an additional 480 bitcoins for ~$10.0 million at an average price of ~$20,817 per #bitcoin. As of 6/28/22 @MicroStrategy holds ~129,699 bitcoins acquired for ~$3.98 billion at an average price of ~$30,664 per bitcoin. $MSTRhttps://t.co/leQYTXn817
Saylor tweeted the news as well, with his laser-eyed Twitter profile picture intact. The Bitcoin whale has long supported the cryptocurrency, even during the latest market downturn.
Over the month, Saylor has continued to tweet in favor of Bitcoin as well.
On Monday, he tweeted, “Bitcoin is the only investment grade cryptocurrency,” and on Tuesday, he wrote, “Stay humble. Stack sats,” referring to Satoshis, which are the smallest fractional shares of Bitcoin.