MicroStrategy Is Back With 301 BTC Bitcoin at the Price of 19.851 Dollars Per Coin

Michael Saylor's company, MicroStrategy, has bought up hundreds of Bitcoins again. (Photo; Doc. Unsplash)

JAKARTA – Michael Saylor's company, MicroStrategy, has bought up 301 BTC Bitcoin. The purchase was made by MicroStrategy when BTC prices continued to decline in recent months. MicroStrategy bought three hundreds of BTC at 19,851 per coin.

For information, MicroStrategy is a technology company from the US that provides business intelligence services, cloud computing, software and others. It was founded in 1989 by a trio of Michael Saylor, Sanju Bansal, and Thomas Spahr.

The purchase of 301 Bitcoins is worth a total of 6 million US dollars with an average purchase price of 19.851. MicroStrategy itself claims to have made the purchase between August 2 and September 19, 2022.

This latest purchase adds to the company's Bitcoin coffers. To date, MicroStrategy has as many as 130.000 Bitcoins with a total value of 3.8 billion US dollars.

Based on its recent purchases, MicroStrategy holds nearly 10x more BTC than the closest publicly traded company holding the flagship asset, according to Coingecko data.

On September 9, MicroStrategy revealed that they could sell up to $500 million of class A common stock to buy more Bitcoin.

MicroStrategy founder Michael Saylor is an outspoken Bitcoin proponent. He, along with his company, are facing prosecution from Washington DC on charges of tax fraud.

Saylor recently stated that his company's stock has outperformed big tech companies like Google, Meta, Netflix, and Microsoft since adopting the Bitcoin standard.

At the time of writing, the price of Bitcoin has decreased by 1.7 percent in the last 24 hours. Meanwhile, in one week, the price fell by 5.6 percent. At the time of writing, Bitcoin is trading at IDR 285.242.001.