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MicroStrategy’s Bitcoin Timing Shows a Spotty Scorecard

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Bitcoin Holds Above $30,000 After Rout
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Bitcoin’s slide below $30,000 has dragged MicroStrategy Inc.’s stash of the cryptocurrency underwater, muddying founder Michael Saylor’s strategy of betting on the token. The software maker has disclosed new Bitcoin additions nearly two dozen times, with the first back in August 2020. However, all but four of those times they paid more on average than the current price of around $30,000. The first four purchases in late 2020 -- amassing just over 70,000 coins for just $1.13 billion -- have nearly doubled in value.

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