Microstrategy Won’t Stop Buying Bitcoin, Adds Another $209 Million
Microstrategy has made headlines again by acquiring an additional $209 million worth of Bitcoin, marking the company's eighth consecutive weekly purchase. The firm, which has transformed from a cloud computing company to a major player in Bitcoin investment, now holds a total of 446,400 BTC, valued at approximately $41 billion. The latest acquisition involved buying 2,138 BTC at an average price of $97,837 per coin. This follows a series of significant buys in recent weeks, including a record purchase of $5.4 billion. Founder Michael Saylor began accumulating Bitcoin for the company during the pandemic, taking advantage of economic conditions, and has maintained a bullish stance on Bitcoin, often buying at the top of the market. While Bitcoin has seen fluctuations, including a recent decrease to around $91,700, Saylor expressed confidence in continued acquisition without plans to sell anytime soon.
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