Microstrategy Bought 300 Bitcoin in Third Quarter

MicroStrategy, the largest corporate holder of bitcoin, further expanded its stack in the third quarter of 2022 when cryptocurrencies plummeted to their lows. MicroStrategy reported 301 bitcoin were purchased in the three months ended September 30th, worth about $6 million, significantly down from the close to 9,000 BTC added in Q3 2021. The company continued to buy 5,609 bitcoin this year compared to 43,500 last year. This brings their total to 130,000 BTC, bought for around $ 4 billion, with MicroStrategy claiming they haven’t sold any bitcoin whatever. Some of these bitcoins serve as collateral for the many loans that MicroStrategy has taken out.

As of September 30, 2022, approximately 14,890 of the bitcoin held by the Company serve as part of the collateral for the Company’s 6.125% Senior Secured Notes due 2028, according to the company.

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