Microstrategy bought Bitcoin again. Profiting from the price floor of digital assets, the main reason Buy 300 bitcoins by microstrategy Is.
Despite the continued decline in the digital currency market and Bitcoin’s struggle to stabilize above $19,000, MicroStrategy has decided to Buy BTC at the price floor has taken.
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Buy 300 bitcoins by microstrategy
According to Michael Saylor, Microstrategy bought 301 Bitcoins at an average price of $19,851. The total value of microstrategy BTC purchases to 6 million dollars arrives.
A US Securities and Exchange Commission (SEC) report confirms MicroStrategy’s purchase of 300 Bitcoins. The entity announced that Microstrategy sold its BTC holdings between August 2, 2022 and September 20, 2022. It is stated in part of this article:
Microstrategy and its subsidiaries have about 130,000 bitcoins until September 19, 2022. The total purchase price of Microstrategy reaches 3.98 billion dollars. Each Bitcoin unit purchased by Microstrategy costs an average of $30,639. This cost includes fees and purchase costs.
MicroStrategy has a long history of maintaining stability in the face of market volatility. According to a report published by Finbold in January 2022, Phong Lee, CFO of Microstrategy, attributed the company’s behavior to a “buy and hold assets” strategy.
Microstrategy Interest in Bitcoin Hold
Michael Silver announced in June 2022 that his company was adopting Bitcoin strategy, predicted the volatility of the market’s flagship digital asset. Microstrategy had adjusted its balance sheet so that it could continue to invest and hold through market adversity.
Microstrategy was one of the first companies to invest in Bitcoin. The company announced in September 2020 that Bitcoin will easily become a store of value. The data of August 2022 shows that MicroStrategy Since adopting the BTC strategy in August 2020, it has outperformed 97% of S&P500 stocks.
According to Michael Silver, Bitcoin will replace gold in the near future. The possibility of accepting Bitcoin in jurisdictions is much higher than this precious metal. At the time of writing this article, each Bitcoin unit is trading at $18,924. The largest cryptocurrency of the market grew by 1.04% in the last 24 hours. BTC price is down 11.48% from last week.
Bitcoin’s market capitalization currently stands at $362.51 billion. According to CoinMarketCap data, Bitcoin is still the largest digital currency in the world.
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