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MicroStrategy Announces Yet Another Major Bitcoin Purchase

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Tue, 05/18/2021 - 12:07
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Alex Dovbnya
MicroStrategy has scooped up another $10 million worth of Bitcoin
MicroStrategy Announces Yet Another Major Bitcoin Purchase
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MicroStrategy has bought the dip.

According to its May 18 SEC filing, the business intelligence company has purchased yet another $10 million worth of Bitcoin at an average price of $43,663 per coin.

It currently holds 92,079 Bitcoins that are worth an estimated $2.251 billion.

Notably, MicroStrategy announced its previous $15 million purchase less than a week ago on May 13. The announcement came in an apparent show of support shortly after Tesla suspended Bitcoin payments due to environmental concerns.

Related
Ark Breaks with Elon Musk on Bitcoin, Describing Tesla's U-Turn as "Misguided"

CEO Michael Saylor led the criticism of Tesla's about-face, personally crossing swords with Elon Musk on Twitter.

Despite being canceled by Bitcoiners, Musk clarified that Tesla still held its Bitcoin stash after indicating that it could remove the top coin from its balance sheet.

Bitcoin is currently trading at $45,240 on the Bitstamp exchange after seeing a mild relief rally.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.