Cryptheory: Crypto and Internet

cryptocurrency and internet meaning, guides, learning

MicroStrategy Purchases Additional 3,907 Bitcoins

1 min read

MicroStrategy buys bitcoin

MicroStrategy Inc has purchased additional 3,907 Bitcoins for approximately $177 million from July 1 to August 23. Currently, the firm has 108,992 Bitcoins in its holdings — which were acquired for $2.918 billion.

The firm’s latest purchase still pales in comparison with its purchase on June, where it bought an additional 13,005 Bitcoins for roughly $489 million.

As one of the most staunch supporters of BTC, MicroStrategy CEO Michael Saylor once said that he influenced Tesla to invest $1.5 billion in the cryptocurrency. This was after Tesla CEO Elon Musk had a casual discussion at Twitter with Saylor.

BTC experienced a correction when Saylor disclosed the $177 million BTC purchase, bringing its value to $50,000. The cryptocurrency has not seen any correction since its bear run in July, when it was valued at $28,000.

Some were hoping that the value would rise above the $50,000 mark, but it ended up falling by 2.65% in the past 24 hours.

The post MicroStrategy Purchases Additional 3,907 Bitcoins appeared first on SuperCryptoNews.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published.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