Despite the drop in Bitcoin price, leading business intelligence firm, Microstrategy has announced that it has bought more Bitcoin, again. This was made known by Michael Saylor, who is a strong proponent of the leading crypto asset, through a tweet via his official Twitter handle.
MicroStrategy has purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per #bitcoin. As of 3/1/2021, we #hodl ~90,859 bitcoins acquired for ~$2.186 billion at an average price of ~$24,063 per bitcoin. $MSTRhttps://t.co/fGH5KacsPI
— Michael Saylor (@michael_saylor) March 1, 2021
According to Saylor, Microstrategy bought over 300 units of BTC for $15 million at an average price of $45,710. The current purchase brings their holding to 90,859 BTCs which, cumulatively, is worth $2.18 billion. This additional purchase comes after the firm spent over $1 billion on the leading crypto asset recently.
Interestingly, Microstrategy and Square, have bought the asset despite it being on a current bad run. Square bought $170 million of the coin while Microstrategy has purchased close to 20,000 units of the crypto king. The two firms CEO are also believers in the digital currency as they have made notable contributions towards mainstream adoption of the crypto king.
The Michael Saylor led company is one of the early adopters of Bitcoin as a store of value and the firm has attempted to lure other corporate bodies into purchasing the asset. Saylor has said that buying Bitcoin remained one of the firm’s corporate goals and that there are currently no chances of the firm liquidating its holdings.
