MicroStrategy Buys the Dip, Adds $10M to Bitcoin Treasury

CEO Michael Saylor bought the coins for an average price of $31,808.

Jan 22, 2021, 2:33 PM

Updated Aug 19, 2021, 6:45 AM

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Business intelligence company MicroStrategy bought 314 bitcoin for $10 million on Friday, piling on in a market that was down as much as 15% only one day before.

CEO Michael Saylor said in a tweet the coins cost an average of $31,808. He said the purchase conforms with MicroStrategy's treasury reserve policy.
This is MicroStrategy's first treasury padding since splurging $600 million on the market-leading cryptocurrency following a debt raise.

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