MicroStrategy Buys Additional 660 Bitcoin for $25M
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MicroStrategy is boosting its bitcoin (EXANTE: Bitcoin) reserves with another purchase of 660 BTC for approximately $25 million in cash. According to a regulatory filing, the latest purchase brought the company's total holdings to 125,051 BTC worth ~$4.8 billion with an aggregate purchase price of $3.78 billion.

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The move comes after Phong Le, MicroStrategy CFO, said that the company plans to continue buying the cryptocurrency despite the total bearish trend in the market. At the same time, the US Securities and Exchange Commission (SEC) wants MicroStrategy to modify the way it discloses its bitcoin holdings in future filings.

MicroStrategy Considers Lending Out Bitcoin to Generate Yield

The regulator earlier contacted the company to ask it to better reflect BTC volatility in its filings, rather than using accounting practices that adjust for bitcoin impairment losses.

In December last year, Michael Saylor, the CEO of MicroStrategy, revealed that he personally owns about 17,732 BTC. The MicroStrategy CEO himself said he never sold his cryptocurrencies and, in general, does not consider it advisable to sell bitcoin at all.

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