MicroStrategy Spends Another $94m on Bitcoin

MicroStrategy Shares Jumped With Their Recent $94m Bitcoin Purchase.

MicroStrategy (NASDAQ: MSTR), a US-based business software firm, announced that it spent another $94 million on Bitcoin to retain on its balance sheet. That brought the total amount of Bitcoin it holds to $124,391 (USD 5.9 billion), and boosted MicroStrategy stock.

As per usual, the purchase was announced on Twitter by MicroStrategy CEO Michael Saylor, “MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin.”

Following the news, MicroStrategy stock went up by 1.04 percent for the day. The gains come after the share has been in a downtrend since November 9, when it lost over 37% of its value.

This news comes less than a month after Saylor last claimed that his firm had acquired more BTC.

On December 9, the Bitcoin bull claimed that the firm had purchased 1,434 bitcoins - significantly less than today's purchase in BTC and USD terms. The coins were then acquired at an average price of USD 57,477, which was considerably higher than today's purchase price.

The latest Saylor news was, as usual, well-received by the Bitcoin community. Some people, on the other hand, asked why the company's average price reached almost $49,000 while the market price is presently around $46-47k. The Bitcoin market has yet to react in any significant way to this transaction.

Thinking of buying MicroStrategy stock? Check out our 2022 DeFi Trends to Watch.

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