MicroStrategy ($MSTR) Buys Another 660 Bitcoins; Over $1 Billion Profit in Bitcoin So Far

MicroStrategy CEO Michael Saylor today announced that his firm has purchased an additional 660 bitcoins for ~$25.0 million in cash today. MicroStrategy bought these Bitcoin at an average price of ~$37,865 per bitcoin. With this purchase MicroStrategy now holds over 0.5% of total Bitcoin in circulation worth $4.6 Billion. 

MicroStrategy Playing The Long Term Game; Over $1 B in Profit

MicroStrategy is now nearly $1 Billion in profit over their $3.78 Billion purchase of Bitcoin so far. The value of the 125,051 Bitcoin owned by the firm at current Bitcoin price of $38,000 is nearly $4.6 Billion.

MicroStrategy has bought almost every dip on Bitcoin and their current avg. buy price stands at $30,200/BTC. Bitcoin and crypto market is currently facing a tough market situation with Bitcoin recently dropping to $32,500 mark. Meanwhile, BTC price has recovered from this recent bloodbath and currently stands at $38,500 at the time of writing.

Is The Bottom In For Bitcoin?

Bitcoin Price has regained almost 5% in last 24 hrs indicating that $32,500 was a local bottom. The next important milestone for Bitcoin price is successful reclaim of $44k.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button