MicroStrategy Invests Another $25 Mln In Cryptocurrencies.

MicroStrategy Invests Another $25 Mln In Cryptocurrencies.

2022-02-06 | Selina Mathew

MicroStrategy Invests Another $25 Mln In Cryptocurrencies.

Throughout the current meltdown, MicroStrategy, a US-based business intelligence software firm, purchased extra Bitcoin for $25 million in cash. Michael Saylor, the firm's CEO, stated that it had purchased additional 660 Bitcoins at an average price of $37,865 per Bitcoin. According to reports, MicroStrategy is the largest global business investor in the globe's biggest crypto by the market price. The corporation currently has over 1,25,000 Bitcoins in its possession. The new acquisition that comes amid the cryptocurrency industry is in decline, with Bitcoin, for instance, losing over 40% of its value from November.

Bitcoin reached a high of $69,000 in November, however is now trading at little more than $36,000, which is lower than the average value for MicroStrategy's latest Bitcoin buy, according to Saylor. Nevertheless, if the average price of all Bitcoins in MicroStrategy's purse is included, the company is currently in the black.

According to a release from MicroStrategy, the new quantity of Bitcoins was acquired between December 30 and January 31.

According to CoinGecko, a crypto analytics portal, MicroStrategy is the greatest business supporter of Bitcoin. Tesla, which has just 48,000 Bitcoins, is a faraway second.

Saylor, the CEO of MicroStrategy, is a well-known supporter of Bitcoin. In July of the previous year, he stated that his firm's long-term goal would have been to invest in Bitcoin since the destiny of Tech Giants is "digital property."

He reportedly informed Bloomberg that Bitcoin's drop from a historic high in November doesn't really concern him since inflation is growing. "A Bitcoin norm is the strongest protection against inflation," he adds.

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