MicroStrategy Invests $10Mln In Bitcoin - Enjoying The Dip.
2021-05-18 | Mike Hallen
Publicly traded business intelligence firm MicroStrategy is making
the foremost of the downturn in Bitcoin [
BTC, -2.58%] prices, purchasing another 229 BTC for $10 Mln in cash.
Revealed by CEO Michael Saylor on
Twitter and within an
official SEC filing earlier on Tuesday, the firm purchased the cryptocurrency at
a mean price of $43,663 USD per bitcoin.
The purchase means MicroStrategy now holds 92,079 BTC bought for
a complete sum of $2.251 Bln at
a mean price
of roughly $24,450 USD per bitcoin.
That means the firm has doubled its money since it started investing
within the cryptocurrency, with
the entire holdings now being worth $4.150 Bln,
consistent with present market price calculations.
Solely five days ago, Saylor announced
the acquisition of 271 BTC for $15 Mln. The company features a policy of regularly purchasing bitcoin for its treasury reserves as a hedge against USD inflation.
At the reporting time, bitcoin is presently trading at a price of around $43,895 USD.
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