- MicroStrategy bought an additional 1,045 BTC at an average price of $28,016.
- The company has an unrealized loss of approximately $172.6 million in its Bitcoin holdings.
- While MicroStrategy is buying Bitcoin, the US government is selling.
MicroStrategy founder Michael Saylor announced the purchase of an additional 1,045 Bitcoin (BTC). The company now holds 140,000 BTC.
According to a Form 8-K filing with the Securities and Exchange Commission (SEC), MicroStrategy now holds 140,000 BTC. The company bought an additional 1,045 BTC at an average price of $28,016 from March 24 to April 4.
MicroStrategy Bitcoin Holdings at a Loss
The latest purchase lowered MicroStrategy’s average purchase price to $29,803. Therefore, the company is at approximately 4.14% loss in its BTC holdings at the current market price of $28,568.
Michael Saylor’s company invested in Bitcoin at a combined purchase price of approximately $4.17 billion. Based on these figures, MicroStrategy has an unrealized loss of approximately $172.6 million.
Prior to this purchase, MicroStrategy bought 6,455 BTC at an average price of $23,238 on March 23. The company has been accumulating Bitcoin since 2020. On August 11, 2020, it made its first purchase of 21,454 BTC at an average price of $11,652.84.
Saylor Buying Bitcoin While Government Sells
Digital asset manager Eric Weiss noted that MicroStrategy is buying Bitcoin while the US government is selling, referencing Saylor’s tweet. Weiss says, “Which strategy is better seems pretty clear.”
COINOTAG reported on March 31 that the US government plans to sell 41,500 BTC from the Ross Ulbricht Silk Road case. The government has already sold 9,800 BTC last month.
The Department of Justice seized 69,370 BTC from a hacker who exploited the dark web marketplace Silk Road in 2020.
Click here for COINOTAG’s latest analysis of Bitcoin (BTC).
Disclaimer
In accordance with Trust Project guidelines, COINOTAG is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to independently verify the facts before making any decisions based on this content and to consult with a professional.
