Michael Saylor’s MicroStrategy Buys Additional 5050 Bitcoins
On Sep 13, 2021
While Bitcoin dips, MicroStrategy buys additional 5050 Bitcoins and makes its place solid among companies with bitcoin portfolios.
The largest cryptocurrency in the market, Bitcoin, has dropped more than 3% in 24 hours. Even though the latest drop still many analysts are bullish on Bitcoin. While paper hands are selling their holdings with a single drop, strong hands even buy more bitcoins. A huge part of the sale has happened during the last week, with the 20% drop in the price after El Salvador’s bitcoin acquisition. Bitcoin went down from 52k to 42k within a few hours. It caused panic sales, and people lost million on leveraged positions on this trading day.
During the announcement of the MicroStrategy, Bitcoin was dipping by 3%. Almost 2 hours later, Bitcoin experienced a spike from $44k to $46.8k. However, the price of BTC dropped to below the previous level in just minutes after hitting $46,800. At the time of writing, Bitcoin was traded at $43,956 and market capitalization was $821 billion.
MicroStrategy Buys Additional 5050 Bitcoins
The business intelligence company MicroStrategy announces the acquirement of the 5,050 Bitcoin to the public. MicroStrategy is known for its bitcoin portfolio, which is the most among the publicly traded companies. The company has bought bitcoin massively since last year.
According to the official announcement on their websites, it is the 2nd bitcoin purchase in the 3rd quarter. Previously, MicroStrategy bought 3,907 bitcoins on August 24. With the latest announcement, the total amount they bought was 8957 bitcoins in the 3rd quarter.
The dollar value of the latest purchase is approximately $243 million. As of 13th September, the company holds 114,042 bitcoins which is worth $3.16 billion. The average value per bitcoin is $27,713.
Currently, MicroStrategy is the company with the highest amount of bitcoin reserves. It is followed by Tesla with 48,000 bitcoins which is worth $1.5 billion.
Disclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.