MicroStrategy continues the addition of Bitcoin in its portfolio

MicroStrategy has gained more than 130% via Bitcoin investments
  • MicroStrategy has continued its buying frenzy with a purchase of $15 million worth 262 BTC 
  • With the latest purchase the business intelligence is having $5.1 billion worth Bitcoin
  • With the continued addition of Bitcoins in its portfolio the shares price of the firm is also soaring

MicroStrategy, one of the first institutions to enter the crypto market, is continuing to invest in Bitcoin at every point. Back in August 2020, the firm first dipped in the Bitcoin market. Since then, the firm has continued its purchase frenzy at several points. However, in recent weeks the firm is observed investing tremendously.

On Friday, the business intelligence firm has again announced a purchase of $15 million worth 262 BTC approximately. The purchase is made at an average price of $57,146 per BTC. According to Michael Saylor, the Chief Executive officer of MicroStrategy, the firm is now holding 91,326 BTC with the latest purchase.

MicroStrategy has gained 130% via BTC investment

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According to Michael Saylor, the firm’s 91,326 BTC are purchased at an average price of $2.211 billion. According to the data from CoinMarketCap, at press time, the tokens are trading at the price level of $57,394. Following the current price level, the firm’s holding’s total value is now approximately $5.1 billion. Indeed, the firm has gained more than 130% through Bitcoin investments.

The firm’s Bitcoin investment frenzy is non-stop

Since August 2020, the firm began investing in Bitcoin and invested in the asset at several points. However, since recent week MicroStrategy is actively purchasing Bitcoins. Late last month, the firm began to increase its portfolio with an investment of more than $1 billion worth of 19,452 BTC. Afterward, earlier this month, the firm purchased a total of 328 and 205 Bitcoins in two investments. And now again, it added 262 BTC and continued to increase its portfolio.

The continuing addition of Bitcoin concerns many in the cryptosphere. Many are afraid whether MicroStrategy will begin to sell-off. However, many experts in the cryptosphere are considering that the firm will begin the sale of its holdings after continuing the purchasing frenzy till 100k BTC. Indeed, the firm’s next move is still keeping many in speculation.

The value of MicroStrategy’s shares is also soaring

With the latest investment news, the value of MicroStrategy shares also surged. In pre-market trading on Friday, stocks’ prices were listed at the level of $763. However, since the investment announcement spread in the market, the shares’ price surged at the level of $803.75. Indeed, the last time when the firm invested in Bitcoins on 5th March, its shares were trading at the price level of $547.40.

Source: TradingView

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Ahtesham Anishttp://www.thecoinrepublic.com
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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