• Sun. Sep 25th, 2022

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MicroStrategy made small purchase of bitcoins

MicroStrategy

The smallest Bitcoin purchase in more than two years

After the company’s co-founder resigned as CEO last month to concentrate on the business’s digital asset strategy, MicroStrategy Inc., the top corporate buyer of bitcoin, made the smallest purchase of the cryptocurrency in over two years.

The company may issue shares to raise money for new purchases.

According to a filing with the Securities and Exchange Commission, the enterprise software provider purchased 301 bitcoins for almost $6 million at an average cost of nearly $19,851. (SEC).

Since the business started purchasing virtual currency in 2020, MicroStrategy’s total assets have decreased in value by around $1.5 billion, or about 38%.

The business submitted an SEC filing earlier this month to sell $500 million worth of shares, with the possibility of using the funds to purchase additional cryptocurrencies.

In New York, MicroStrategy shares are down approximately 3.9% to $199, or about 64% this year, matching the decline in the value of Bitcoin during that time.

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