MicroStrategy took another dip in the Bitcoin market

Michael Saylor purchased another 253 Bitcoins worth $15M
  • MicroStrategy has invested yet another million-dollar in Bitcoin
  • By acquiring more than 253 BTC tokens for $15 million, the firm is now holding a total of 91,579 tokens
  • Although the firm acquired the tokens at an average price of $2.226 billion, the current value of the holdings is around $5.46 billion

MicroStrategy, the business intelligence firm, has again added 253 Bitcoins to its investment portfolio. With the latest purchase, the firm has continued its Bitcoin purchase frenzy. However, according to the latest announcement, the firm has invested $15 million in the asset class. Indeed, the firm bought 253 BTC tokens in cash at an average price of $59,339 per Bitcoins. Moreover, with the latest purchase of the coins, the firm is now holding 91,579 BTC tokens in total. According to experts, the firm will continue the purchasing frenzy till it has 100k BTC tokens.

MicroStrategy is not losing any point to invest in the BTC market

MicroStrategy, the first institutional investor to believe in the Bitcoin market, made its first investment in the BTC market last year. Since then, the firm has never missed any vital points and continued its Bitcoin purchasing spree. Following the hype of the leading crypto asset, many institutions also entered the market. 

- Advertisement -

However, by the end of last year, the firm was accumulating around 21k BTC tokens. Since the beginning of this year, Michael Saylor, the CEO of MicroStrategy is investing in the BTC market like his day-to-day routine. Last month only, he invested around a total of $25 million in two parts, $15 million and $10 million

Furthermore, the firm has invested a total amount of $2.226 billion, which means 91,579 BTC has been purchased at an average price of $24,311 per token. At press time, BTC is trading at the price level of $59,710. According to the current price, the tokens MicroStrategy is having are worth $5.46 billion.

When will Michael Saylor begin to sell the Bitcoins?

Although MicroStrategy is continuing its Bitcoin purchase frenzy, the cryptosphere is skeptical regarding the firm’s next move. The bigger question is when the firm will start sell-off and how it will impact the BTC market. According to several experts in the cryptosphere, the business intelligence firm will continue to hold the currency until it acquires 1,00,000 BTC. Moreover, observing how the CEO is fond of the flagship cryptocurrency, it seems that h will continue the buying frenzy. If it sells, it will not sell the entire holdings, as Saylor knows that such a sell-off impacts the space badly.

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

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.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Top Rated NFT Market

Australia's Top Rated Exchange

Top Rated Cryptocurrency Payment Service

Our Partners

cryptoheroes

RocketFuel