Microstrategy (MSTR) Bought 301 More Bitcoins for $6 Million, Already Underwater

September 20, 2022 9:00 AM EDT

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MicroStrategy (NASDAQ: MSTR) announced today it acquired 301 bitcoins (BTC) at an average price of $19,851 per unit between August 2 and September 19.

The company spent $6 million of its cash reserves on the latest investment to boost its holdings to nearly 130,000 bitcoins.

These digital assets were acquired at an aggregate purchase price of approximately $3.98 billion with an average purchase price of about $30,639 per bitcoin.

Shares of the company are down 1.8% in premarket Tuesday as the bitcoin price continues to comfortably trade below the $20,000 handle.

As of 09:00 AM EST, Bitcoin price trades at $19,123.

By Senad Karaahmetovic

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