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MicroStrategy Announces Yet Another Major Bitcoin Purchase

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Tue, 18/05/2021 - 12:07
MicroStrategy Announces Yet Another Major Bitcoin Purchase
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MicroStrategy has bought the dip.

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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.

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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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