MicroStrategy acquired 850 bitcoin for $37.2 million in January

Companies • February 6, 2024, 4:54PM EST

Published 1 minute earlier on

Quick Take

MicroStrategy now holds a total of 190,000 bitcoin.

MicroStrategy bought another 850 bitcoin for $37.2 million in January, according to a post by Michael Saylor, the company's founder and chairman.

The company now holds a total of 190,000 bitcoin, he also said in his message posted to the social media platform X. Saylor also announced MicroStrategy would be discussing its fourth-quarter financial results on Tuesday.

The price of the most popular cryptocurrency by market capitalization seesawed throughout January amid the launch of several spot bitcoin ETFs. At one point bitcoin's price nearly hit $49,000, according to The Block's Price Page. As of 4:28 p.m. ET on Tuesday, bitcoin was trading at $43,156.

In November, MicroStrategy said it may raise up to $750 million through the sale of new Class A common stock shares. By the end of December, the company had sold 1 million shares for $610 million.

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RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.