Bobos & Wojaks

Get rich or die tryin

Microstrategy Bought Another 1,914 Bitcoins For $94 Million

Microstrategy is a software company that is well-known for its Bitcoin purchasing programme. In the last few years, the company has added a total of 124,391 Bitcoins.

The crypto market has plummeted in value during the last few days. Despite the fact that the price of bitcoin did not drop significantly, many analysts predicted that the market was headed for a major crash. Those Bitcoin companies and individuals who are bullish on bitcoin, on the other hand, are not waiting for this crash to turn into an opportunity.

microstrategy-bitcoin

According to Microstrategy’s 8-K filing on Wednesday, the company purchased a total of 1,914 Bitcoins for its portfolio. The corporation now has a total of 124,391 Bitcoins in its possession.

With this, the total purchase value of all Bitcoins has risen to $3.75 billion. And the current Bitcoin buy price is $30,159. With a total profit of $2.16 billion, the corporation is profitable.

The supply of Bitcoin is restricted to 21 million, as we all know. As a result, Microstrategy holds 0.6 percent of the total number of Bitcoins that can exist in the Bitcoin blockchain network. And, if we consider the number of Bitcoin wallets that have been lost, we may estimate that this number of Bitcoin fractions is roughly 0.7 percent of the overall Bitcoin supply.

The Company purchased 1,434 Bitcoins at an average price of $57,477 around three weeks ago. The corporation also bought a total of 7,002 Bitcoins on November 29.

Micheal Saylor, the CEO of Microstrategy, recently expressed his opinions with corporate management about a new plan to earn revenue from the company’s holdings.

Nothing is officially planned, according to Saylor, but the company may develop its own application to use Bitcoin, or it may intend to offer the Bitcoin Holdings to any trusted company to use Bitcoin as a kind of liquidity to deliver any Bitcoin-related services.