Led by then CEO and now Executive Chairman Michael Saylor, MicroStrategy began purchasing bitcoin in August 2020. The company's most recent purchases took place last month and as of Nov. 30, MicroStrategy held 174,530 bitcoin acquired for $5.28 billion, or an average price of $30,252 each.
Bitcoin has not seen such a high level since April 2022, or before the crash of the Terra ecosystem. At its lowest during the bear market of 2022, bitcoin had pulled back to under $16,000, putting MicroStrategy's bet deep in the red. Saylor, however, continued to add to the company's holdings, funding purchases with a mixture of debt and equity issuance.
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