MicroStrategy Bitcoin Acquisition Rate Drops in January Amid Volatility

Bitcoin Acquisition

MicroStrategy acquired about 660 bitcoins at $25 million between December 30 last year and January 31, much lower than that of December alone.

The amount of BTC dropped compared to 20 days to the end of December when the company amassed about 1,914 BTC. It is also lower than the 1,434 bitcoins it bought in the first nine days of the month.

The reduction is interpreted as a reduced risk appetite amid volatile BTC prices, currently trading around $39,000.

The business intelligence firm notes that the average purchase price for each acquired digital asset was $37,865.  

The stock of MicroStrategy has plunged about 34% in the past month, even as the CEO, Michael Saylor, maintains that the firm would not sell its BTC stake.

Source: Coindesk

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