He had already spent billions of dollars of MicroStrategy’s money to purchase bitcoin — and his paper loss amounted to about $1 billion. Bitcoin had sunk to below $23,000, less than MicroStrategy’s average price paid: $30,664.
Today, though, MicroStrategy’s position looks brighter as bitcoin’s price has rebounded to above $29,000. Bottom line: MicroStrategy is nearly back in the black with bitcoin. And its stock price has recovered some, too. It’s around $390 now versus $270 a year ago . Looking forward to the second anniversary of Saylor’s exit from an operational role at his company, MicroStrategy will likely own substantially more bitcoin than it does now as the companya $750 million share sale, the proceeds of which will be used in part to purchase more of the crypto.