Microstrategy Bought More Bitcoins and Benefited From That
A well-known in a crypto community company, Microstrategy bought Bitcoins again. They purchased 262 Bitcoins for $15 millions on March, 12th. Michael Saylor, the company’s CEO, announced it on his Twitter this very day.
A week ago they leveraged $10 millions cash to buy 105 Bitcoins, and now they do it again. Michael Saylor is famous as a strong Bitcoin enthusiast, and he gladly shares the information about buying Bitcoin. The information about purchasing Bitcoins by a company was filed into a Form 8-K Securities and Exchange Commission.
Now the price is lower than Microstrategy actually paid for Bitcoin this week but they still managed to benefit from that. Now they hold 91,000 Bitcoins at an average price of $24,000 per Bitcoin which is more than twice lower than the recent price of the first world’s cryptocurrency. Their entire Bitcoin treachery costs over $5.1 billions but overall their strategy paid off.