beincrypto.com
MicroStrategy accumulated 2,501 Bitcoin in the bear market despite the MSTR stock price hitting a 6-month low.
The Bitcoin Bull Michael Saylor announced on Twitter that MicroStrategy increased its Bitcoin holdings. The tech company now holds 132,500 Bitcoin acquired for $4.03 billion at an average price of $30,397.
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 first accumulated 2,395 Bitcoin from Nov. to Dec. 21 for around $42.8 million. The firm bought Bitcoin for an average price of $17,871 during this period.
It later sold 704 Bitcoin for approximately $11.8 million at an average price of $16,776 on Dec. 22. This event was the first time when MicroStrategy sold Bitcoin since it first started accumulation on Sep. 2020.
Lastly, the firm acquired 810 Bitcoin for $13.6 million at an average price of $16,845. In total, MicroStrategy added 2,501 to its portfolio. The Michael Saylor-founded company has 132,500 Bitcoin on its balance sheet.
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 MicroStrategy is down 45% from its average buying price, the community believes that the average buy will look cheap in a few years.
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 stock price is trading at a 6-month low of $145.09 as of writing; the price is down by more than 28% in Dec.
Not just MSTR, bears have complete control over other crypto stocks like Coinbase (COIN) and Robinhood (HOOD). COIN is down by more than 30% this month, while HOOD is down 22%.
Got something to say about MicroStrategy, crypto stocks, or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.
For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.