Today, May 18, business intelligence company MicroStrategy announced another major Bitcoin purchase. The company purchased 229 BTC for $10 million. Currently, MicroStrategy's bitcoin holdings are about 92,079 units traded for over $2.2 billion at an average price of 24,450.
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MicroStrategy has purchased an additional 229 bitcoins for $10.0 million in cash at an average price of ~$43,663 per #bitcoin. As of 5/18/2021, we #hodl ~92,079 bitcoins acquired for ~$2.251 billion at an average price of ~24,450 per bitcoin. $MSTRhttps://t.co/fU6LN4WbKI
— Michael Saylor (@michael_saylor) May 18, 2021
This is the second time this month that the company has traded BTC. A few days ago, on May 13 MicroStrategy bought coins for $15 M.
Michael Saylor is a huge crypto supporter. His company has a policy to regularly adding Bitcoin to its treasury reserves as a hedge against U.S. dollar inflation.The price of the leading cryptocurrency has seen a major decline recently. It's over 32% down from the all-time high of around $64800 reached on April 14.
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Presently, BTC trades at about $43700 with a market cap of $819.7 B. The coin's market dominance index is 40%.