Home Crypto MicroStrategy Buys Additional 5,000 Bitcoins

MicroStrategy Buys Additional 5,000 Bitcoins

MicroStrategy Buys Additional 5,000 Bitcoins

Microstrategy has once again continued its Bitcoin (BTC) buying streak. The company has bought another 5,050 BTC, worth approximately $242.9 million.

Over $3 Billion in Bitcoin

With this latest investment, MicroStrategy now owns over $3 billion of the top cryptocurrency. This would also be the largest one-time cash purchase of the Fortune 500 companies to date. The company now has a total of 114,042 BTC on its balance sheet.

Additionally, the recent purchase of MicroStrategy shows that the rumors of a possible Bitcoin dump by the company are not true. According to a recent report, the company’s top executives unloaded a total of more than $120 million in $MSTR shares. This, in turn, fueled the fire over the company’s Bitcoin dump, although CEO Michael Saylor has reiterated that the company has no plans to sell anytime soon.

MicroStrategy and Bitcoin

Since August of last year, MicroStrategy started making regular BTC purchases. At the time, the price of the top cryptocurrency was around $10,000. The company has purchased BTC in several ways, namely through debt offers and direct cash purchases. The company has said it would continue to offer debt offers to buy more Bitcoin.

Still, the company’s leadership has been under some pressure during the recent bearish period. For example, investors would propose to sell some of his BTC holdings. However, Saylor led the company through the bearish phase and refused to sell their Bitcoin during this period. This seems to work out well for the company so far.

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