MicroStrategy has purchased an additional 5,050 bitcoins for ~$242.9 million in cash at an average price of ~$48,099 per #bitcoin. As of 9/12/21 we #hodl ~114,042 bitcoins acquired for ~$3.16 billion at an average price of ~$27,713 per bitcoin. $MSTRhttps://t.co/2ESbTy6ad7— Michael Saylor⚡️ (@michael_saylor) September 13, 2021
The company purchased over 5000 BTC on an average price of $48099 per Bitcoin. It is surprising to see such a huge purchase when Bitcoin is down by 2%. Bitcoin in the last 24 hours is trading over the $44000 mark.
Michael Saylor the founder and current CEO of MicroStrategy has for long believed in the growth of Bitcoin. His company is making big purchases in Bitcoin. He said that neither he nor the company will ever be forced to sell BTC no matter the price fluctuations. The CEO is determined to continue investing in BTC.
It is not the first time that MicroStrategy is investing millions in BTC. The BTC buying strategy is core to the company’s vision. Back in August 2021, the firm bought over 4000 BTC worth approximately $177 million.
Again in June 2021, MicroStrategy raised over $500 million to buy BTC. The company’s biggest purchase has been of 13000 bitcoins worth $500 million in June 2021.
Is it true that MicroStrategy buying BTC at strategic moments or at times of BTC dip is a well-planned move? Is Michael Saylor trying to influence the overall BTC price?
Well! For this, we will have to wait and watch. As of 14th September 2021, the BTC is trading at $44664.