During a market downturn, MicroStrategy purchases an additional $25 million worth of bitcoin.

 

MONEYCRYPTO | In January, the acquisition rate was significantly lower than in December. Between December 30, 2021, and January 31, 2022, MicroStrategy (Nasdaq: MSTR), a business intelligence software company that has taken to stockpiling bitcoin, stated it purchased around 660 bitcoins for around $25 million.

• ccording to a release, the corporation paid an average price of $37,865 per bitcoin.
• The 660 BTC acquired throughout the 32-day period is equivalent to 21 BTC every day on average. That's down from 1,914 bitcoins purchased in the 20 days leading up to Dec. 29 – an average of 96 per day – and even slower than the 1,434 bitcoins purchased in the first nine days of the month.
• Given the market's recent collapse, the pause could indicate that MicroStrategy is being more cautious in its bitcoin acquisitions. By market capitalization, the world's largest cryptocurrency achieved a record high near $69,000 in November and is now trading at $39,000.
• MicroStrategy, situated in Tysons Corner, Virginia, currently has a total of 125,051 bitcoins, worth nearly $4.8 billion at the current bitcoin price of $38,700.
• MicroStrategy's stock has dropped by roughly 34% in the previous month.
• CEO Michael Saylor has stated that the company has no intention of selling its bitcoin assets and is committed to the long term.

Sources : https://www.coindesk.com/business/2022/02/01/microstrategy-buys-additional-25m-worth-of-bitcoin-during-market-dip/