MicroStrategy reported on the purchase of bitcoin for $ 650 million

MicroStrategy reported on the purchase of bitcoin for $ 650 million
CONTENT

  • MicroStrategy bought bitcoin for another $ 650 million

  • Average price per purchase of one bitcoin was $ 21,925

  • The company continues to believe that bitcoin is suitable as a store of value

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Giant in the field of providing business intelligence reports on the purchase of bitcoin cryptocurrency in the amount of $ 650 million

MicroStrategy reported on the purchase of bitcoin for $ 650 million

MicroStrategy bought 29,646 BTC for $ 650 million. The company reported this on its official website. It is noteworthy that the purchase of each bitcoin was carried out at the rate of $ 21,925 per BTC.

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As of December 21, 2020, MicroStrategy owns a total of approximately 70,470 BTC ($ 1.6 billion at $ 22,880). At the same time, the average purchase price of bitcoin cost about $ 15,964 per BTC.

Contrary to prejudice

The purchase of bitcoin above $ 20,000 occurs even though there is no tangible correction in the market. Having soared above $ 20,000 on December 16, Bitcoin has never dropped below this level..

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The purchase of almost 30 thousand BTC can be seen by the Bitcoin bulls as a bright signal for action amid the already all-encompassing hype..

MicroStrategy reported on the purchase of bitcoin for $ 650 million

“The announcement of the purchase of additional bitcoins confirms our belief that bitcoin, as the world’s most widely used cryptocurrency, is a reliable store of value,” said MicroStrategy CEO Michael Saylor..

MicroStrategy CFO Von Lee notes that the company still believes that bitcoin will provide an opportunity for more profit and retain the value of capital over time compared to cash..

Read also: Michael Sailor of MicroStrategy Compares Bitcoin to Air

BeInCrypto previously reported that MicroStrategy has successfully offered $ 650 million convertible bonds for further Bitcoin purchases.

At the time of this writing, the price of bitcoin BTC / USDT is $ 22,880.

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