MicroStrategy purchases $10m more in Bitcoin, with an average price of $31,808! MicroStrategy purchases $10m more in Bitcoin according to an announcement from CEO Michael Saylor.
The company now owns 70,784 Bitcoin worth around $1.13 billion dollars at time of writing. The recent purchases follows a corrective move by Bitcoin, along with the rest of the cryptocurrency market, correcting from around $35,700 to just under $30k a piece.
Bitcoin has since recovered to $32,400 following a flurry of buys in the lower $30,000 region.
MicroStrategy is one of the multitude of companies that has invested in Bitcoin following the last crash – March of 2020, where it saw the price plummet to $4,000.
As we’ve noted before, this rally has undeniably been driven by institutional demand as opposed to retail mania like it was in 2017.
What do you think? Let us know on our own Facebook page!
