Nasdaq-listed software intelligence firm, Microstrategy has once again bought the dip. Frontline ‘Bitcoin CEO’ Michael Saylor made the announcement on Twitter on Tuesday:
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy
— Michael Saylor
(@saylor) February 1, 2022
https://platform.twitter.com/widgets.js
The purchase was made during the period between Dec. 30, 2021, and Jan. 31, 2022, according to documents from the U.S. Securities and Exchange Commission (SEC).
Last week Microstrategy’s chief financial officer, Phong Le, said:
“Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows or we find other ways to raise money, we continue to put it into bitcoin.”
A week ago, the SEC published its letters to Microstrategy about the company’s way of accounting for its Bitcoin holdings as it asked the firm to change it. In one of the letters, the regulator stated”
“We object to your adjustment for bitcoin impairment charges in your non-GAAP measures.”
At the time of writing, one Bitcoin is valued at $38,385.94 based on data from CoinMarketCap.
The post MicroStrategy Adds 660 BTC to Its Treasury During the Latest Dip appeared first on iGaming.org.
Source: Igaming
