MicroStrategy has gone ahead and done it again by doing exactly what the Bitcoin (BTC) community expects it to do. The business intelligence firm has proceeded with increasing its holding of Bitcoin.
MicroStrategy Acquires another Batch of Bitcoin
MicroStrategy has reportedly acquired yet another batch of Bitcoin. However, this time, the business intelligence firm has not acquired a large number of Bitcoin in the process.
Once again, MicroStrategy has listened to what the CEO of the company had to say about the largest cryptocurrency. Despite the rise and fall, Michael J. Saylor, MicroStrategy’s CEO has continued speaking positively about Bitcoin.
Since the day Saylor’s turned into a proponent of Bitcoin, he has not changed his mind even for once. He has continued supporting Bitcoin no matter the situation and intends to continue with the same sentiments.
The US SEC Confirmed the Acquisition
The information surrounding the acquisition of Bitcoin was shared by the US SEC. MicroStrategy had recently filed an 8-K form with the US SEC. In the form, MicroStrategy added that it had accumulated yet another batch of Bitcoin.
This time, MicroStrategy revealed it had acquired 480 more Bitcoins in the process. On average, MicroStrategy spent $20,817 per Bitcoin for the particular batch. The firm has confirmed that it spent $10 million in cash in order to accumulate the 480 BTCs.
MicroStrategy’s Holdings is now 129,699 BTCs
After acquiring 480 Bitcoins, MicroStrategy has topped up its Bitcoin holding to a total of 129,699 Bitcoins. MicroStrategy now exists as the largest corporate holder of Bitcoin in the market. The company’s current holding of Bitcoin stands at $3.98 billion.
It has become a common practice for MicroStrategy to acquire Bitcoin whenever its market experiences a downtrend. From time to time, MicroStrategy has acquired Bitcoin at some of the most critical and crucial timings.
The business intelligence firm’s attempt of acquiring Bitcoin at the most critical times has always helped Bitcoin recover at a significant rate.
MicroStrategy Continues Supporting Bitcoin
So far, many rumors have been spread surrounding MicroStrategy. However, one of the major rumors was MicroStrategy facing an investors’ call. The summary of the matter was that the firm will have to sell off a portion of its Bitcoin.
However, MicroStrategy executives completely denied such rumors and confirmed they are still bullish on Bitcoin. The $10 million investment the firm has made is a confirmation that the company is going nowhere in terms of Bitcoin.
It will continue investing in Bitcoin and it is because of the confidence level and trust of MicroStrategy that will help Bitcoin recover again. The investors must get ready because the recent input made by MicroStrategy will soon go a long way in boosting Bitcoin’s price.