On March 12, the US-listed company Microstrategy announced that it had purchased an additional 262 Bitcoins for a total of approximately $ 15 million. Managing Director of the company, Michael Saylor, informed already 623,000 followers on Twitter about the purchase. Despite this, the market did not react to this news with dynamic increases.
Another 262 Bitcoins in the Microstrategy wallet
Microstrategy informed US regulators that it had bought 262 Bitcoins for as much as $ 15 million.
The company is clearly increasing its cryptocurrency holdings. Seven days ago, on March 5, it announced that it had bought 205 Bitcoins (BTC). Now, on March 12, it announced the purchase of $ 15 million worth of Bitcoins. Investments have already been reported on the 8-K Securities and Exchange Commission (SEC) form.
Meanwhile, a Bitcoin fan and Microstrategy CEO, Michael Saylor, revealed via Twitter that his company had purchased the aforementioned Bitcoins. As in previous tweets like this, he said how much the company had bought BTC and at what price. He recalled how much the company currently has cryptocurrencies and the average price it paid for each coin.
Microstrategy bought an additional approximately 262 Bitcoins for approximately $ 15 million, with an average price of approximately $ 57,146 for Bitcoin
– he wrote on Twitter.
MicroStrategy has purchased an additional ~ 262 bitcoins for ~ $ 15.0 million in cash at an average price of ~ $ 57,146 per #bitcoin. As of 3/12/2021, in #hodl ~ 91,326 bitcoins acquired for ~ $ 2.211 billion at an average price of ~ $ 24,214 per bitcoin. $ MSTRhttps://t.co/QIQP30rv2q
– Michael Saylor (@michael_saylor) March 12, 2021
Microstrategy purchasing program
Despite the announcement, Bitcoin is still underperforming on the chart. It’s as if this type of news no longer affects the imagination of investors.
The cryptocurrency fell to $ 55,011 per unit during Friday’s morning session. This happened shortly after BTC hit its monthly high of $ 58,156, approaching its all-time high of $ 58,350.
Microstrategy, as you can see, is not put off by what is happening on the chart. The company has adopted a fairly sane strategy of buying cryptocurrencies at averaged prices. And this idea has turned out to be very profitable so far. The company’s portfolio is worth more than $ 5.1 billion today. This one spent about $ 2.2 billion on its Bitcoins.
It is worth adding that the first Chinese company – Meitu from Hong Kong also invested in BTC. Its shares rose after announcing the news that it had purchased Bitcoin (BTC) and Ether (ETH) for $ 40 million. We wrote about it here.