MicroStrategy buys extra 328 bitcoins worth $15m.

Spread the love

Business analytics company MicroStrategy has acquired an extra 328 bitcoins for nearly $15 million. This will be the first acquisition of the crypto currency by the corporation in March, after the publicly held corporation invested billions of dollars to purchase Bitcoin in February of this year.

MicroStrategy owns approximately 90,859 bitcoins bought for approximately $2,186 billion at an average price of $24,063 per bitcoin.

The acquisition comes after Michael Saylor, CEO of MicroStrategy, said that the company will continue to purchase the digital currency. This may be due to the fact that the company finds Bitcoin to be a commodity that could function as a “reliable store of value.” Saylor said in a statement at the time:

“The company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.”

A day before the purchasing of Bitcoin on 24 February, Saylor estimated that 7-8 billion people would soon have a “digital gold bar” on their computer that they would use to store their “life savings.” Saylor also said that people were not aware of the fact that “Bitcoin is an egalitarian radical invention” that could outperform a number of tech companies.
There’s no question that Saylor, a bitcoin maximalist and hodler himself, will lead the organisation to buy more bitcoin. Reaffirming his position on the Saylor commodity also claimed that “the planet wants” Bitcoin and expects “billion users” to use Bitcoin as a “savings account” on cell phones within five years. At press time, BTC stood at $48,037.94, up 9.1 per cent in the last 24 hours.

RECOMMENDED READ:  Litecoin Market Analysis for 7th January 2021

 378 Interactions,  8 today

READ ALSO:
MicroStrategy’s board of directors will be paid in Bitcoin.

MicroStrategy, a business intelligence firm and a leading institutional investor in Bitcoin, announced that it would pay its board of Read more

Why MicroStrategy is just getting started with recent $15M Bitcoin purchase

MicroStrategy has recently converted large quantities of its cash assets to Bitcoin. In what is yet another bitcoin investing streak, Read more

Why MicroStrategy claims that billions of people will put their life savings in Bitcoin

After a 24-hour low price of $45,201, Bitcoin has recently experienced a big pullback. In the midst of price dips, Read more

MicroStrategy to invest $900M from convertible senior notes into Bitcoin

If the purchase goes as expected, the business intelligence company will retain more than $3.5 billion in Bitcoin as a Read more

Bitcoin vs gold, why MicroStrategy says Investors want Bitcoin

Gold and Bitcoin proponents are likely to keep debating with each other as both gold enthusiasts and bitcoin maximalists adhere Read more

Why MicroStrategy’s stock up 113% following downgrade by Citigroup

MSTR's portfolio has risen by nearly 113 percent since December 8, when it was downgraded by a Citigroup analyst. On Read more

Why MicroStrategy CEO predicts Bitcoin will rise by a factor of 100 or 1,000

Michael Saylor, CEO of MicroStrategy, appears to know a thing or two about Bitcoin than other conventional investors neglect. In Read more

How the $10M acquisition of Bitcoin from MicroStrategy makes the market recover to $32K

More dedication to its treasury sees MicroStrategy entering Grayscale as the major buyer this week, while some are also selling. Read more

Elon Musk Needs Bitcoin Help from MicroStrategy’s Michael Saylor

Elon Musk is at it again when it comes to crypto. This time, his attitude appears to have shifted into Read more

MicroStrategy buys the dip — Now has more BTC than US govt

Michael Saylor announces another $650 million purchase of Bitcoin as it price dips from weekend highs. Business intelligence company MicroStrategy Read more

Leave a Reply

Contact Us