Bitcoin

MicroStrategy Buys The Dip, Spends $10 Million On BTC

The Nasdaq-listed company MicroStrategy continues to push ahead with its plans to purchase some BTCs at frequent intervals. On Tuesday, Michael Saylor the company’s owner took to Twitter and revealed that the firm had invested another ten million dollars on purchasing as many as nine 229 tokens of the world’s most famous cryptocurrency, surging its BTC stash to a total of 92,000 tokens.

The tweet further reads that the company bought the virtual currency during the BTC’s dramatic dip at $43,000. Besides that, the announcement comes as the crypto market saw a push towards red after Tesla’s CEO Elon Musk took to Twitter and criticized the digital token. He also indicated that the electric car maker might sell its Bitcoin holdings.

Since August last year, the company has been spending huge sums on increasing its BTC holdings. So far, MicroStrategy has invested as much as $2.251 billion on the crypto asset. Despite the hefty purchase announced on Tuesday, it does not make it the largest single purchase by Saylor’s firm as it once bought $1 billion worth of the digital tokens.

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