MicroStrategy, the business intelligence firm led by Bitcoin bull Michael Saylor, continued accumulating more Bitcoin in October even as it posted losses in Q3 2022.
Keypoints
- MicroStrategy bought 155 more Bitcoins in October for $5.3 million, adding to its existing portfolio of over 158,000 BTC.
- MicroStrategy’s total Bitcoin holdings are now worth $4.69 billion, acquired at an average price of $29,586 per BTC.
- The company posted a net loss of $143.4 million in Q3 2022 but remains bullish on Bitcoin for the long-term.
- Other major corporate Bitcoin holders like Tesla did not add to their holdings in Q3 2022.
- Bitcoin whales have been accumulating, with large addresses adding 18,924 BTC worth $650 million in late October.
- MicroStrategy CEO Michael Saylor has predicted Bitcoin could 10x from current levels around $34,000.
- Saylor cites the upcoming Bitcoin halving in April 2023 and possible SEC approval of a Bitcoin ETF…
