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Accumulated microstrategy 2.501 in the bear market despite the mstr share price hitting a trough of 6 months.
Bitcoin bull Michael saylor announced on twitter that microstrategy has increased his bitcoin holdings. The technology firm now owns 132,500 bitcoin purchased for $4.03 billion at an average price of $30,397.
MicroStrategy has increased its #Bitcoin Holdings by ~2,500 . As of 12/27/22 @MicroStrategy holds ~132,500 bitcoin acquired for ~$4.03 billion at an average price of ~$30,397 per bitcoin. https://t.co/lcMeULcGQk
— Michael Saylor?? (@saylor) December 28, 2022
MicroStrategy Sold Bitcoin for the First Time
According to a Form 8-K, MicroStrategy added a net of 2501 Bitcoin to its portfolio. The company initially accrued 2,395 Bitcoin from Nov. to Dec. 21 for approximately $42.8 million. The company purchased Bitcoin for an average price of $17,871 during that time.
He later sold 704 bitcoin for about $11.8M at an average price of $16,776 on December. 22. This event was the first time MicroStrategy sold Bitcoin since it began building up on Sep. 2020.
Finally, the company acquired 810 Bitcoin for $13.6 million at a price average of $16,845. A total of 501 were added to the portfolio. The company founded by Michael Saylor has 132,500 bitcoin on its balance.
According to Saylor Tracker, a website that tracks the Bitcoin portfolio of MicroStrategy based on data from public announcements, the firm is down approximately 45% in its all-time Bitcoin holdings.
Although the microstrategy is 45 per cent lower than its average purchase price, the community believes that the average purchase will look cheap in a few years.
That average buy will look cheap in a few years
— Cryptographic London? (@SerLondonCrypto) December 28, 2022
The MSTR Stock Price Falls to a 6-Month Low
Despite Michael Saylor buying Bitcoin, the stock price of MicroStrategy (MSTR) has struggled this month. The mstr share price trades at a six-month low of $145.09 at the date of writing; the price is down over 28% in December.
Not just MSTR, bears have complete control over other crypto stocks like COINBASE (COIN) and Robinhood (HOOD). COIN fell by over 30 per cent this month, while HOOD fell by 22 per cent.
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