Business analytics and mobility software MicroStrategy, which is a big Bitcoin investor bought 205 Bitcoins for $10 M, paying around $48,888 per coin. The CEO of the enterprise Michael Saylor posted about the trade on Twitter.
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MicroStrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash at an average price of ~$48,888 per #bitcoin. As of 3/5/2021, we #hodl ~91,064 bitcoins acquired for ~$2.196 billion at an average price of ~$24,119 per bitcoin. $MSTRhttps://t.co/a0BRd4Wy3r
— Michael Saylor (@michael_saylor) March 5, 2021
So, now the firm owns 91.064 Bitcoins valued at $4.3 billion overall. An average purchase is estimated at $24.199.
It's already the second time this month MicroStrategy has procured Bitcoin. On March 1, the entity purchased 328 BTC worth $15 Million.
MicroStrategy's investments in Bitcoin have a "pattern". The company generally makes deals at times of BTC price dip.
Lately, Bitcoin price fluctuates between $48.000 to $50.000. Currently, the cryptocurrency trades at around $48.600.The price volatility is a reason that arises speculations among some people. However, many expect the price to reach $100.000 eventually.
As for Microstrategy, the firm believes that Bitcoin is an asset that can provide "a dependable store of value".