Bitcoin price drops, but Michael Saylor’s company continues to accumulate. The company made purchases in July. According to a recent announcement, the company increased its BTC holdings before the end of July, albeit in small amounts. What is the total amount of BTC in the company’s treasury?
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During the second quarter, the company purchased 12,222 BTC and spent 805.2 million dollars. The average cost per Bitcoin was 65,882 dollars, meaning the BTC acquired in the second quarter is already at a loss. As of July 31, 2024, the company’s total BTC holdings reached 226,500. This is roughly equivalent to 8.3 billion dollars.
MicroStrategy (MSTR)’s average cost for all its BTC holdings is 36,821 dollars. This represents a good profit at the current price. MicroStrategy President and CEO Phong Le wrote in the latest report:
“After another successful quarter for our Bitcoin strategy, MicroStrategy now holds 226,500 BTC, reflecting a current market value 70% higher than our cost basis. On the adoption front, the bipartisan stance showcased at the Bitcoin 2024 Conference in Nashville has increased our optimism.”
