MicroStrategy, a well-known business intelligence company and self-proclaimed pioneer in Bitcoin development, has once again grabbed attention with its latest action in the cryptocurrency realm.
MicroStrategy, a software company known for its interest in bitcoin, recently bought more bitcoins. They used $623 million to purchase 9,245 bitcoins, each costing around $67,400. This money came from $592.3 million raised through a special type of loan and $30.7 million from their extra cash.
MicroStrategy’s Growing Bitcoin Holdings
MicroStrategy now owns over 1% of all bitcoins that will ever be available. This means they have a significant amount of this digital currency.
Market Reaction to Bitcoin’s Price Drop
After bitcoin’s value fell to $63,000, MicroStrategy’s stock (MSTR) also dropped by more than 10% in pre-market trading. This shows how closely the company’s value is tied to the price of bitcoin.
MicroStrategy’s Impressive Bitcoin Holdings
MicroStrategy now owns around 214,246 bitcoins. This amount is worth $13.5 billion at today’s prices. This is more than 1% of all the 21 million bitcoins that will ever exist. They bought these bitcoins for about $7.53 billion, paying an average of $35,160 per coin.
Recently, the price of bitcoin dropped to $63,000. As a result, MicroStrategy’s shares have fallen by over 10% to $1,344 in pre-market trading. This is a decrease of about 25% from the all-time high they reached last Friday.
MicroStrategy, led by Michael Saylor, continues to invest heavily in bitcoin, showing confidence in the future of this digital asset. Their recent purchase further solidifies their position as a major player in the cryptocurrency space.
