As a seasoned crypto investor with a penchant for tech-savvy businesses, I find MicroStrategy’s relentless Bitcoin acquisition strategy quite intriguing. Having witnessed the volatility of the cryptocurrency market firsthand, I must admit that their strategic move to average their purchasing price above $60,000 per coin is a bold one.
Continuing its weekly Bitcoin acquisition spree, the Virginia-headquartered data analytics firm, MicroStrategy, has made another substantial buy.
A major corporation that already owns a substantial amount of Bitcoin purchased an extra 21,550 BTC, valued at approximately $2.1 billion, as stated in a document filed on Monday.
The cost that MicroStrategy typically pays for a single Bitcoin has surpassed $60,000, currently sitting at approximately $60,324 per unit.
The company’s shares are down 2.18% in pre-market trading.
Bitcoin is currently trading at $98,258, according to CoinGecko data.
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2024-12-09 16:28