MicroStrategy Adds to Bitcoin Trove With Another $10M Purchase

MicroStrategy isn’t finished buying bitcoin.

• The business intelligence company added 295 BTC to its hoard, per a Tuesday filing.
• This marks the second $10 million purchase this year, after MicroStrategy bought 314 BTC less than two weeks ago, per CoinDesk’s prior reporting.
• MicroStrategy’s most recent buys were executed at an average price of $33,810, suggesting that it may have accumulated the new coins after the market dropped following a price spike around social media frenzy stirred by Elon Musk’s Twitter account.
• On the company’s earnings call last week, CEO Michael Saylor said his company will “continue to actively manage” their balance sheet and “progressively acquire more bitcoin” at prices “that probably keep going up.”
• MicroStrategy now holds 71,079 BTC, per the filing.