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Still Bullish: MicroStrategy Buys Another $50 Million in Bitcoin

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Written by   83
1 year ago

The Multi National Business Intelligence firm MicroStrategy Buys another 2,754 bitcoins at a price of $19,427 each which is worth a total of $50 million.

MicroStrategy CEO Michael Saylor Confirmed this with a Tweet

In the mid of this year, August MicroStrategy already bought 21,454 BTC when the price was In the $11,700 range. After August MicroStrategy Funneled in another $175 million on September 14 at the price of 16,796 BTC when the price of bitcoin dipped to around 10,700.

After their investment bitcoin price propelled to reaching all time high of nearly $20,000 mark. Eventhough the price of btc has raised after their initial investment CEO of MicroStrategy still remains bullish and that's why the have bought btc one again when btc is around $19,427.

With the most recent purchase of Micr0Srategy, it now holds the most bitcoin of any institutional investment holding 40,284 Bitcoin, which is worth over $765 million at the time of editing this article. MicroStrategy by far invested around $475 million investment. they have already made a profit of $290 million and the bull market its yet to reach its peak.

According to Bitcoin treasuries MicroStrategy now holds more bitcoin then any other publicly traded companies that includes Galaxy Digital Holdings, led by Mike NovoGratz which owns 16,651 BTC. Jack Dorsey's Square, which also offers Bitcoin services through the Cash App, has 4,709 BTC on its books.

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