One of the biggest institutional investors in Bitcoin (BTC), business intelligence company MicroStrategy, used the last months of the crypto winter as an opportunity to buy from the bottom.
MicroStrategy was submitted to the US Securities and Exchange Commission (SEC) on Sept. 20. 8-K form between 2 August and 19 September, according to 301 BTC he bought. company, average from $19,851 approx. for these Bitcoins received 6 million dollars paid.
With the last purchase, the total Bitcoin reserves of Michael Saylor’s company are approximately 130,000 BTC being measured. Average at $30,639 For these BTCs received, approximately $3.98 billion investment has been made.
However, this investment, which yielded rather poorly realized profits during the hectic times of the bull market, is worth just over $2.46 billion at the time of publication. With the Bitcoin price plummeting by more than 70 percent since November 2021, the company has also 1.52 billion dollars it has damaged.
However, it should be kept in mind that this damage is only unrealized, that is, on paper.
With its 130,000 BTC reserves, MicroStrategy is by far the largest institutional investor among publicly traded companies. Bitcoin Treasures to the data According to Tesla, Elon Musk’s company follows him with 10 thousand BTC.
Tesla sold 75 percent of its Bitcoin savings in the second quarter of the year.