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MicroStrategy (MSTR) on Wednesday morning said it purchased 480 bitcoins for about $10 million – an average price of $20,817 per coin – during the period from May 3 to June 28.
The new additions bring company holdings to 129,699 bitcoins (BTC) acquired for $3.98 billion, or an average cost of $30,664 each. At press time, bitcoin is changing hands at $20,100, making MSTR's stash worth approximately $2.6 billion.
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
— Michael Saylor⚡️ (@saylor) June 29, 2022
During bitcoin's latest leg down to the $18,000-$21,000 range, there's been a lot of talk about whether MicroStrategy may begin to face margin calls, but company CEO Michael Saylor has dismissed the chatter and pledged to purchase additional coins as cash flow allowed.