Main navigation

MicroStrategy Buys $414 Million Worth of Bitcoin

News
Mon, 11/29/2021 - 13:15
article image
Alex Dovbnya
MicroStrategy has announced another massive Bitcoin purchase
MicroStrategy Buys $414 Million Worth of Bitcoin
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Business intelligence firm MicroStrategy has wowed the cryptocurrency community with yet another massive Bitcoin purchase. 

The company announced Monday that it had bought an additional 7,008 Bitcoins at an average price of approximately $59,187 per coin since the beginning of October.

MicroStrategy's Bitcoin riches have now swelled to 121,044 coins, whose average purchase price is $29,534.

Related
Cardano Fan Names Newborn Son After Favorite Cryptocurrency

The company currently holds roughly 0.64% of Bitcoin's total circulating supply.

Bitcoin did not budge on the announcement as it continues to flatline just above the $57,000 level.

As reported by U.Today, the flagship cryptocurrency has managed to partially recover from the violent sell-off that took place on Monday.

article image
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.