MicroStrategy, a software company with a significant cryptocurrency stake, has made another major move in the bitcoin market. The firm bought approximately 2,138 bitcoins at an average price of less than $100,000 per coin.
This latest purchase brings MicroStrategy’s total bitcoin holdings to an impressive value of over $41.1 billion. The company’s decision to invest heavily in cryptocurrencies has been a subject of interest among investors and analysts alike.
In a recent move, MicroStrategy sold off more of its common stock to raise the necessary funds for this new acquisition. Despite this, the company’s shares have taken a hit on Monday, reflecting market volatility and investor concerns about the overall cryptocurrency landscape.
As the year progresses, it remains to be seen how MicroStrategy’s bitcoin investments will perform in the face of fluctuating market conditions. One thing is certain, however: the company’s commitment to its cryptocurrency strategy is unwavering.
Source: https://www.marketwatch.com/story/microstrategy-snags-another-2-138-bitcoins-at-less-than-100-000-per-coin-762d04f6