In a regulatory filing on Tuesday, Virginia-based MicroStrategy, which owns more bitcoin than any other corporation in the world, disclosed it purchased approximately 660 bitcoins for about $25 million in cash ($37,865 per coin) between December 30 and January 31.
MicroStrategy is doubling down on its unprecedented commitment to the world’s largest cryptocurrency even as the Securities and Exchange Commission cracks down on how the firm has reported operating profits amid bitcoin’s recent price crash.
CEO Michael Saylor also recently revealed that he personally holds 17,732 Bitcoins that are worth $685 million at the time of writing.
Saylor told Bloomberg last month that his company would never sell Bitcoin despite the significant price drawdown: “We’re only acquiring and holding bitcoin, right? That’s our strategy.” The permabull predicted that the Bitcoin price could eventually reach an eye-watering $6 million.