The Nasdaq-listed Microstrategy (NASDAQ: MSTR), with over $5 billion in market cap, has bought 314 more bitcoins. CEO Michael Saylor announced Friday:
Microstrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We now hold approximately 70,784 bitcoins.
At the time of writing, the price of bitcoin on markets.Bitcoin.com stands at 32,223 per BTC. It has fallen about 22% from an all-time high of above $41K on Jan. 8 but has risen about 70% since the beginning of December.
if (!window.GrowJs) { (function () { var s = document.createElement(‘script’); s.async = true; s.type = ‘text/javascript’; s.src = ‘https://bitcoinads.growadvertising.com/adserve/app’; var n = document.getElementsByTagName(“script”)[0]; n.parentNode.insertBefore(s, n); }()); } var GrowJs = GrowJs || {}; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push({ node: document.currentScript.parentElement, handler: function (node) { var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); } });
Saylor has been one of bitcoin’s most bullish proponents in the institutional space. He believes that “Regulatory clarity will accelerate the adoption of bitcoin by corporations and institutional investors,” the CEO said this week. He revealed in October last year that he personally owns 17,732 BTC.
Microstrategy began stockpiling BTC in August last year when it made bitcoin the company’s primary reserve asset. In December, the company purchased 29,646 bitcoins for $650 million at an average price of $21,925 per bitcoin. Its aggressive bitcoin purchase strategy has caused a Citigroup analyst to downgrade the company’s stock to a sell rating.
What do you think about all the bitcoins Microstrategy is buying? Let us know in the comments section below.
[…]
Learn more
The defunct cryptocurrency exchange Mt. Gox is making waves again, this time with huge Bitcoin…
Lightning Labs, a leading developer in Bitcoin's Lightning Network ecosystem, has launched a groundbreaking protocol…
According to onchain data, a significant whale holding over 92,500 ether moved the funds to…
🛸Inspired by the internet's favorite extraterrestrial, Skinny Bob MemeCoin is revolutionizing the cryptosphere across multiple…
NFTs, or non-fungible tokens, are transforming various industries, including art, music, sports, and real estate.…
Proton Technologies AG, the Swiss company renowned for its encrypted email and VPN services, has…
Leave a Comment