MicroStrategy, a prominent Virginia-based business intelligence firm, has made another significant move in the cryptocurrency market by purchasing $243 million worth of Bitcoin. The company revealed that it acquired the additional Bitcoin at an average price of $95,972 per BTC. This marks the tenth consecutive weekly Bitcoin purchase by the firm, showcasing its unwavering commitment to accumulating the leading cryptocurrency.
With this acquisition, MicroStrategy’s total Bitcoin holdings have now exceeded 450,000 BTC, solidifying its status as the largest corporate Bitcoin holder in the world. This milestone highlights the company’s long-term bullish stance on Bitcoin, even as the market experiences volatility.
The announcement coincided with Bitcoin’s recent price drop to an intraday low of $90,198, further emphasizing MicroStrategy’s strategy of buying during market dips. However, the news has not been enough to counter broader market sentiment, as the company’s stock (MSTR) saw a decline of over 4% in pre-market trading.
This move underscores MicroStrategy’s belief in Bitcoin’s potential as a store of value and its commitment to integrating cryptocurrency into its corporate strategy, despite short-term market fluctuations.
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