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MicroStratergy Acquires Bitcoin worth $10 Million, the Shopping Spree Continues!

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The business intelligence company MicroStratergy has once again made a huge purchase of BTC. this time it has acquired an additional $10 Million worth of Bitcoin at an average price of $48,888. 

The news is not very intimidating, as the company has been on a shopping spree for quite some months now, and the CEO Micheal Saylor is a popular Bitcoin proponent and is always bullish on it.

As of March 1st, the company holds an aggregate of a whopping 90859 Bitcoins worth approximately $2.191 Billion, making for an average of $23,985 per coin.

Previous big purchases

The company has made many huge purchases since August 2020. Prominent ones being $175Million worth 16796 tokens in September 2020 and $650 Million investment in December.

The latest one being the February 24 purchase of $1 Billion worth BTC buy, for which the company raised a debt offering earlier last month.

Michael Saylor has become a bitcoin bull and pioneer of cryptocurrency investments.

The chief executive is of the belief that “bitcoin will flip gold”, and have reduced volatility once it reaches $10 trillion and becoming a stabilizing influence in the financial ecosystem.

Bitcoin’s trajectory

After a great bull run for some months, almost reaching the $60K mark and achieving $1 Trillion Market Capitalization for the first time, it went into a correction mode falling to $45K and ever since is hovering around the $50K mark.

However, the volatility has not affected the company’s investment decisions, as it could be a long-term plan noticing the potential of decentralized finance.

At the time of writing Bitcoin is trading at $48,279.17 with a market capitalization of $900.15 Billion.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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