• Mon. Apr 22nd, 2024

MicroStrategy Makes Yet another BTC Purchase amid the Price Dip



May 19, 2021

As the Bitcoin (BTC) market continues taking a fall in terms of price, MicroStrategy has gone for yet another Bitcoin (BTC) purchase. The latest reports suggest that MicroStrategy has gone ahead and carried out another Bitcoin (BTC).

According to reports, MicroStrategy has spent another $10 million in acquiring Bitcoin (BTC). This shows that despite the market nature and run, MicroStrategy has vowed it would never leave Bitcoin’s side. On several occasions, the business intelligence giant has shown how much it trusts it has in the potential of Bitcoin (BTC).

When other institutional investors found it wise to sell Bitcoin (BTC), MicroStrategy went ahead and made more purchases for Bitcoin (BTC). Even in January 2021, when Bitcoin (BTC) faced its first price drop for the year 2021, MicroStrategy had reportedly acquired $10 million worth of Bitcoin (BTC).

This time again, MicroStrategy has gone ahead and has purchased $10 million worth of Bitcoin (BTC). In Bitcoin (BTC), MicroStrategy has played a huge role in boosting the price of digital assets. It has also motivated other major institutional investors to trust in the potential of Bitcoin (BTC) and do not desert it.

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The recent $10 million worth of Bitcoin (BTC) purchase has brought in 229 Bitcoin for MicroStrategy. This means that MicroStrategy went ahead and purchased each Bitcoin (BTC) at an average $43,663 price. MicroStrategy had confirmed this information through its 8-K form that it filed and submitted at the US SEC on Tuesday.

Prior to the recent $10 million purchase, MicroStrategy had also made a purchase worth around $15 million a week back. As a result, MicroStrategy had gotten its hands on 229 Bitcoin (BTC), where it had reportedly acquired each BTC at an average price of $55,387.

Michael Saylor, the CEO at MicroStrategy had reportedly shared this information through his Twitter account. Saylor is one of the proponents of Bitcoin (BTC) since the start of 2020 and is the reason why MicroStrategy invested more than $2 billion in Bitcoin (BTC).

As of now, Bitcoin (BTC) has spent more than 2.25 billion and has accumulated a total of 92,079 Bitcoin in the process. MicroStrategy has accumulated a total of 92,079 Bitcoin (BTC) at an average price of $24,450 per Bitcoin (BTC).

The first investment MicroStrategy made in Bitcoin (BTC) was back in August of 2020. The second purchase MicroStrategy made was back in September of 2020. In a period between August and September of 2020, MicroStrategy had reportedly spent around $434 million.

This was not the only investment MicroStrategy made in 2020 as it acquired $1.125 billion worth of Bitcoin (BTC) in the year 2020.

So far, in the year 2021, MicroStrategy has acquired $1.126 billion worth of Bitcoin (BTC) in the current year. From the looks of it, MicroStrategy is not going to stop any time soon and will continue accumulating Bitcoin (BTC) even during the dips.


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