MicroStrategy Invested in BTC Again: This Time $650 M

by in Cryptocurrency News

MicroStrategy invests in BTC again

On December 21, business analytics firm MicroStrategy informed about a new Bitcoin deal. The platform acquired 29,646 BTC for $ 650 M.

Related: Grayscale spoke about increased investor interest in Ether

Presently, the company holds 70,470 BTC overall. The average cost of one asset would be $ 15,964. Due to this, MicroStrategy became the fifth-largest individual hodler of Bitcoin, getting ahead of the US government, which holds 69,420 BTC.

The company made its first investment in BTC in August, buying 21 454 BTC with a worth of around $250 M. Then MicroStrategy stated that BTC is an effective means against U.S. dollar inflation.

The second investment was done in September when the organization bought BTC for $425 million.

Recently MicroStrategy's CEO Michael Saylor had a Twitter discussion with Elon Musk about Bitcoin investments. Not like Musk, Saylor finds that investing in the first cryptocurrency is beneficial. He advised Tesla CEO to change dollars to Bitcoin.