The cryptocurrency market has been falling continuously this year. However, MicroStrategy, known as the “Big Brother Stud” in the currency circle, not only did not sell, but instead bought more bitcoins.
MicroStrategy’s former CEO and chairman of the board of directors Michael Saylor said earlier today (20) that MicroStrategy purchased 301 bitcoins with about $6 million in cash, with an average unit price of $19,851 per bitcoin.
Official documents state that MicroStrategy bought the bitcoins between Aug. 2 and Sept. 19 this year.
As of Sept. 19, MicroStrategy and its subsidiaries held about 130,000 bitcoins at a total purchase cost of $3.98 billion, with an average cost of $30,639 per bitcoin.
At present, MicroStrategy is the listed company that holds the most bitcoins in the world, and it is already a well-known bitcoin “Big Brother Stud” in the currency circle. Although the cryptocurrency market is in a downturn, the company continues to increase its bitcoin positions.
For the past two years, MicroStrategy has done “everything” in order to raise money to buy bitcoin. In addition to selling $1 billion in stocks last June, it also issued $500 million in “junk bonds”, and even used bitcoin as collateral to get about $200 million in term loans from banks, and then buy more Bitcoin.
Earlier this month, MicroStrategy also said it had reached sales agreements with two prominent investment banks, Cowen and BTIG, to sell up to $500 million in stock to raise funds to buy more bitcoin.
