Microstrategy Bought 660 More Bitcoins
Microstrategy continues to buy bitcoins with no holding back as during the bear market, bought 660 more bitcoins, with an average price of $37,865. With this purchase, the company holds more 125,000 bitcoins in its portfolio.
Microstrategy’s investment in Bitcoin has reached $3.8 billion while the average purchase price lays around $30,200. As the company stated:
“Our target is to buy and hold bitcoins and for this reason, we are finding new ways to raise capital and invest in Bitcoin again and again”. The SEC has been involved in the case as it has several concerns regarding accounting reporting for Bitcoin and the impact in the company’s valuation.