MicroStrategy Takes $84M Losses as Michael Saylor Buys Back Bitcoins

Michael Saylor, executive chairman of MicroStrategy (NASDAQ: MSTR) and a well-known Bitcoin advocate, has taken significant crypto losses this summer. According to Lookonchain data, he sold 6,916 BTC for approximately $429.35 million at an average price of $62,081 over the past two months, but then bought back 4,603 BTC for about $369.7 million at an average price of $80,318.

This move has resulted in roughly $84 million in losses between late July and August 31. Despite these apparent losses, Saylor's strategy remains unchanged as MicroStrategy resumed its Bitcoin purchases after a ten-week pause. The company rose in early trading on this news.

In a recent X post, Saylor announced that Strategy has acquired 4,603 BTC for $370 million and increased USD Cash holdings by $29 million. He also revealed that the company repurchased $152 million worth of its STRC preferred stock.