Not Kapok, MicroStrategy Buys 5.445 Bitcoins Again Worth IDR 2.2 Trillion

JAKARTA - The world's largest intelligence business and bitcoin holder, MicroStrategy, recently announced the purchase of 5,500 BTC bitcoins. This large purchase cost $147.3 million, equivalent to IDR 2.2 trillion.

Even so, in terms of price performance, Bitcoin still does not show signs of an increase. Currently, BTC is still struggling at a price of IDR 407 million per coin.

Michael Saylor, founder and former CEO of MicroStrategy, announced this latest acquisition through platform X. Saylor explained that his company had to spend IDR 2.2 trillion to buy 5,445 BTC at an average price of $77,053 per bitcoin (IDR 417 million).

With this addition, the company's total BTC stock has reached 158,245 bitcoins. Since the start, the company started buying bitcoins in August 2020, they have issued a total of $4.68 billion (Rp72.3 trillion) at an average purchase price of around $29,582 (Rp457 million) per BTC. However, at this time, their investment position has suffered losses.

This is due to the price of bitcoin which has failed to gain significant momentum in recent times, even having dropped to its lowest level in a few weeks at $26,000 (Rp401 million).

Thus, all MicroStrategy bitcoin holdings are currently worth a little more than $4.1 billion or around IDR 63 trillion.

Keep in mind that MicroStrategy began accumulating bitcoin in August 2020 under Michael Saylor's leadership and recently celebrated its efforts as one of the companies with the most bitcoins.