Business intelligence firm MicroStrategy has acquired an additional $209 million, according to a Monday announcement.
This marks the company's eighth consecutive Bitcoin purchase. However, it is notably smaller compared to previous ones.
The company's total Bitcoin holdings are fast approaching the 450,000 mark, currently standing at 446,400.
Last Monday, the business intelligence firm announced a $516 million Bitcoin purchase. The average price was more than $106,000, meaning that the company purchased that batch of coins near the local market. That said, Saylor has repeatedly rejected the idea of trying to time the market.
Alex DovbnyaYesterday, MicroStrategy cofounder Michael Saylor hinted that he would expand the company's impressive streak by posting his Bitcoin purchasing tracker on social media.
This time, the company's average purchasing price was $97,837.
The company has now purchased roughly 200,000 coins in less than two months. As reported by U.Today, prominent angel investor Jason Calacanis recently opined that the cryptocurrency might become less attractive to investors due to MicroStrategy's excessive ownership.
Bitcoin is currently changing hands at $93,117, down 5.5% over the past 24 hours.
The MicroStrategy (MSTR) stock is down nearly 5% during today's trading session, plunging in tandem with the broader stock market. The company has a market cap of $77 billion.
The flagship S&P 500 index is down 1.3%. The tech-heavy Nasdaq 100, which recently added MSTR, has so far dropped by close to 1.6%.
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Vladislav Sopov
Dan Burgin