- MicroStrategy’s stock fell to a 20-month low of $140.20 in May.
- MicroStrategy accumulates large bitcoin holding more than 129,000 BTC.
American-based company MicroStrategy a business intelligence now at a loss of $330 million on its Bitcoin investment. MicroStrategy’s most recent acquisition, disclosed in April, was 4,167 BTC valued at $190.5 million at the time of buy when bitcoin was trading at $45,714.
JUST IN: MicroStrategy’s #Bitcoin investment is now at a $330 million loss.— Himel nandy (@Himelnandy4) June 13, 2022
MicroStrategy’s Bitcoin Bet
Saylor’s software company has accumulated a large Bitcoin holding of more than 129,000 BTC, including through a subsidiary and he has become a strong supporter of the cryptocurrency, since adding bitcoin to his company’s balance sheet in August 2020.
MicroStrategy’s stock fell to a 20-month low of $140.20 in May before recovering to complete the month at $251.00, but down from an opening price of $392.31. The company’s bitcoin position dropped into the red over the month, and it is still not recovered.
The entire value of the company’s bitcoin holdings was $30,700 on average price. It’s in the red on bitcoin acquisitions, with the price trading at $$25,023.22 at the time of writing but Saylor has no intentions to sell.
MicroStrategy brought three loans between December 2020 and June 2021 to cover its bitcoin investment. In an interview, Michael Saylor said bitcoin is better than gold and also he mention that, if Bitcoin is not going to zero, then it’s going to a million.