MicroStrategy buys more Bitcoin

Last week we had already reported on the investments of large companies in Bitcoin. At that time, MicroStrategy had a fabulous 114,042 Bitcoin in its possession. Since September, the contingent has already been expanded by 20,000 Bitcoin. So, with the new purchase of 7002 BTC, the company continues its investment.

The CEO of the multinational company is Michael Saylor. In the past, he had stood out as a big supporter of bitcoin. Apparently, there is no end in sight for his investment strategy.

As he recently announced on Twitter, MicroStrategy acquired another 7,002 Bitcoins for about $414 million. This gave Saylor an average purchase price of $59,187.

Bitcoin is currently trading at around 57,000 US dollars. After a larger decline on Friday, the price of the oldest and largest has recovered. The important short-term price target here is the 60,000 dollar mark. At the same time, it is important that the 50,000 dollar mark is not undercut.

MicroStrategy has invested only 3.57 billion US dollars for a total of 121,000 BTC. According to the current exchange rate, its own Bitcoin holdings are worth 6.9 billion US dollars.

Of course, this always raises the question of MicroStrategy’s long-term strategy. If Bitcoin continues to increase in value as it has so far, MicroStrategy can rely on enormously large reserves. Saylor regularly emphasizes that the company does not want to sell Bitcoin and is instead interested in always expanding its holdings.