MicroStrategy took advantage of the crypto sell-off to add 1,434 bitcoin to its stash in the last week

--MicroStrategy acquired 1,434 bitcoins between November 29 and December 8. at an average price of about $57,477.

--The company now holds a total of 122,478 bitcoins, with an average purchase price of about $29,861.

--CEO Michael Saylor continues to build his reputation as a bitcoin bull. 

MicroStrategy bought the bitcoin dip. 

The business intelligence company said it purchased 1,434 bitcoins for about $82.4 million between November 29 and December 8. The average price was approximately $57,477, for a total of about $82.4 million. Part of that purchase came during a brutal sell-off on December 4, when the price of bitcoin plunged more than 20%. Prices have risen since, but are still far off of their most recent highs of about $69,000. 

The company said it now holds a total of 122,478 bitcoins purchased at an average price of about $29,861 per bitcoin. At a current price of about $49,000, MicroStrategy's investment is worth about $6 billion. 

CEO Michael Saylor, who famously lost $6 billion in a single day during the dot-com bubble, has emerged as a crypto icon and leader in the digital asset space.

"We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy," said Saylor.

Photo Credits: CoinQuora

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