MicroStrategy, the business intelligence firm, makes its eighth consecutive Bitcoin purchase, adding to its growing stash despite a recent dip in the cryptocurrency market.
This marks the company's eighth consecutive Bitcoin purchase. However, it is notably smaller compared to previous ones. Michael Saylor Stuns Community With Bitcoin Return Prediction Poll, Here's Twist Last Monday, the business intelligence firm announced a $516 million Bitcoin purchase. The average price was more than $106,000, meaning that the company purchased that batch of coins near the local market. That said, Saylor has repeatedly rejected the idea of trying to time the market.
Yesterday, MicroStrategy cofounder Michael Saylor hinted that he would expand the company's impressive streak by posting his Bitcoin purchasing tracker on social media.The company has now purchased roughly 200,000 coins in less than two months. As reported by U.Today, prominent angel investor Jason Calacanis recentlyThe MicroStrategy (MSTR) stock is down nearly 5% during today's trading session, plunging in tandem with the broader stock market. The company has a market cap of $77 billion. The flagship S&P 500 index is down 1.3%. The tech-heavy Nasdaq 100, which recently added MSTR, has so far dropped by close to 1.6%. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlet
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