Bitcoin

Buying the Dip: MicroStrategy Purchases Another $82,400,000 Worth of Bitcoin Amid Crypto Market Doldrums

MicroStrategy CEO Michael Saylor says that the enterprise analytics agency is doubling down on Bitcoin (BTC) and shopping for the dip as soon as once more.

According to Saylor, MicroStrategy simply purchased a further 1,434 BTC for roughly $82.4 million at a median price of about $57,477 per Bitcoin.

Saylor says to his 1.9 million Twitter followers that MicroStrategy now owns a complete of 122,478 BTC, which the firm acquired for $3.66 billion at a median price of $29,861 per Bitcoin.

Saylor mentions that Bitcoin is taking gold’s place as the “most desirable store of value.”

BTC is presently buying and selling at $48,697.37 and is down 2.63% on the day and almost 25% from its all-time excessive a month in the past.

He additionally tells Yahoo Finance that BTC has a decrease stage of danger than different property or kinds of property and that there’s a want for a “nonsovereign store of value that will move at the speed of light on technology networks.”

MicroStrategy’s 122,478 BTC trove is value greater than $5.95 billion at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are usually not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses it’s possible you’ll incur are your duty. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please word that The Daily Hodl participates in affiliate marketing online.

Featured Image: Shutterstock/Mia Stendal/Sensvector

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