Despite the strong fall of bitcoin, the largest cryptocurrency owner continues to increase its reserves

The U.S. Securities and Exchange Commission (SEC) today announced that between August 2 and September 19, 2022, MicroStrategy acquired 301 BTC for a total of about $ 6 million. Thus, one bitcoin cost the firm $ 19,851, including fees and taxes. And this is despite the first cryptocurrency’s fall in value. As a reminder, on September 19, the cryptocurrency market suffered significant losses, falling by $ 165 billion in a week — bitcoin then fell below $ 19,000.

Company representatives said that MicroStrategy purchased bitcoins for excess cash. As of September 19, 2022, MicroStrategy and its subsidiaries owned approximately 130,000 bitcoins, which were purchased at a total price of $ 3.98 billion. Experts have calculated that the average price of a bitcoin with this amount of investment was approximately $ 30,639.

A week ago, MicroStrategy filed a half-billion-dollar share sale with the SEC. As you can see, the company used the proceeds from the sale of shares to buy more BTC. It should be noted that MicroStrategy is the largest institutional investor in bitcoin. Just a month after the company’s CEO Michael Say lor resigned and a week after the Washington Attorney General sued the company and Saylor for tax evasion, the company started buying bitcoins.

In his turn, Saylor continues to be outrageous on the topic of VTC and urges society to invest in virtual currency rather than real estate. «Bitcoin is a property that you can buy in small parts and that you can carry with you anywhere. You can give them to your children or grandchildren. And in 250 years, maybe your family will still own this property,» the former head of MicroStrategy said recently.