BITCOIN

Profit from cryptocurrency trading exceeds 2.2 billion US dollars! MicroStrategy continues to purchase 1,434 Bitcoins, holding a total value of 5.9 billion US dollars.

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Profit from cryptocurrency trading exceeds 2.2 billion US dollars! MicroStrategy continues to purchase 1,434 Bitcoins, holding a total value of 5.9 billion US dollars.

The price of Bitcoin has recently plummeted, but the business intelligence company MicroStrategy continues to purchase Bitcoin, acquiring $82 million worth at an average price of $57,477 per Bitcoin. The company now holds a total of 122,478 Bitcoins.

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Michael Saylor, Founder and CEO of MicroStrategy, tweeted that MicroStrategy purchased 1,434 bitcoins for approximately $82.4 million in cash, at an average price of $57,477 per bitcoin. As of December 9, MicroStrategy has acquired a total of 122,478 bitcoins for around $3.66 billion, with an average price of approximately $29,861 per bitcoin.

Following MicroStrategy's latest purchase, the price of bitcoin continued to decline, reaching a low of $47,468 at the time of writing, a decrease of over 25% in the past 30 days. However, this did not deter MicroStrategy from continuing its strategy. On December 9, MicroStrategy's stock price closed at $591.88, with an intraday low of $587.44, impacted by the significant drop in bitcoin price.

According to the filing submitted to the U.S. Securities and Exchange Commission (SEC) on Thursday, MicroStrategy purchased 1,434 bitcoins for approximately $82.4 million on November 29 and December 8, bringing their total holdings to 122,478 bitcoins. The total value of MicroStrategy's bitcoin holdings exceeds $5.9 billion, with profits exceeding $2.2 billion.

Michael Saylor recently stated that bitcoin is suitable as an inflation hedge but not for buying coffee. El Salvador has already adopted bitcoin as legal tender, making buying coffee a daily occurrence. Whether one agrees with Michael Saylor's argument or not, MicroStrategy's strategic positioning in bitcoin indeed showcases remarkable resilience.

This article is authorized to be reposted from Horizon News Network