MicroStrategy CEO Michael Saylor today announced that his firm has purchased an additional 660 bitcoins for ~$25.0 million in cash today. MicroStrategy bought these Bitcoin at an average price of ~$37,865 per bitcoin. With this purchase MicroStrategy now holds over 0.5% of total Bitcoin in circulation worth $4.6 Billion.
MicroStrategy Playing The Long Term Game; Over $1 B in Profit
MicroStrategy is now nearly $1 Billion in profit over their $3.78 Billion purchase of Bitcoin so far. The value of the 125,051 Bitcoin owned by the firm at current Bitcoin price of $38,000 is nearly $4.6 Billion.
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy
— Michael Saylor?? (@saylor) February 1, 2022
MicroStrategy has bought almost every dip on Bitcoin and their current avg. buy price stands at $30,200/BTC. Bitcoin and crypto market is currently facing a tough market situation with Bitcoin recently dropping to $32,500 mark. Meanwhile, BTC price has recovered from this recent bloodbath and currently stands at $38,500 at the time of writing.
Is The Bottom In For Bitcoin?
Bitcoin Price has regained almost 5% in last 24 hrs indicating that $32,500 was a local bottom. The next important milestone for Bitcoin price is successful reclaim of $44k.
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