Bitcoin (BTC)Crypto News

MicroStrategy Doubles Bitcoin, Mining $6,000,000 Worth of BTC Amid Sizzling Crypto Market Crypto News

MicroStrategy continues to buy despite recent price volatility Bitcoin (BTC) and secures another 301 of the leading crypto asset.
The software company says it bought the tokens for about $6 million in cash at an average price of $19,851 per bitcoin, according to a recent filing with the U.S. Securities and Exchange Commission (SEC) covering the period August 2-19 .

The company now holds about 130,000 bitcoin, including those held by its subsidiaries, which were purchased for a total of $3.98 billion, or an average cost of about $30,639 per bitcoin, according to the filing.

MicroStrategy became a heavy investor in Bitcoin under outspoken crypto advocate Michael Saylor, who founded the company and was CEO until his retirement in August. Saylor became the company’s Executive Chairman to focus on innovation and long-term corporate strategy, which includes acquiring Bitcoin.

The company’s recent purchase was praised by Changpeng Zhao, commonly known as “CZ,” the CEO of major cryptocurrency exchange Binance.

“Today’s skeptics in a few years will be saying, ‘Oh, you’re so lucky to get into bitcoin so early.’ Save this tweet. No financial advice.”

MicroStrategy’s last major purchase of bitcoin was in February, when the company bought another 600 BTC for about $25 million at an average price of about $37,865 per bitcoin.

At the time of writing, Bitcoin is trading at $19,415.

Featured Image: Shutterstock/U2M Brand/Panuwatccn

Source: Crypto News Deutsch

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