Microstrategy Purchases 1,045 Bitcoin
• MicroStrategy has acquired 1,045 Bitcoin for $29.3 million between March 24 and April 4.
• This purchase brings the firm’s total Bitcoin holding to 140,000 BTC, which is more than that of the bankrupt crypto exchange Mt. Gox balance.
• The flagship digital asset is up 0.17% on the 1-hour candle to $28,604, according to CryptoSlate’s data.
Microstrategy’s Acquisition
MicroStrategy acquired 1,045 Bitcoin (BTC) between March 24 and April 4 for about $29.3 million in cash at an average price of $28,016 per BTC. This latest purchase brings the firm’s total Bitcoin holding to 140,000 BTC, which is more than that of the bankrupt crypto exchange Mt. Gox balance according to Glassnode data. As of April 4th 2021, the firm said it held 140k BTC acquired for about $4.17 billion at an average price of $29,803 according to an April 5 SEC filing.
Impact on Price Performance
News regarding this new purchase had little impact on BTC’s price performance as it is up 0.17% on the 1-hour candle to $28604 according to CryptoSlate’s data while MicroStrategy shares are up 2.12% premarket according to Google Finance data and have increased by over 80% on the year-to-date metric since March when they revealed that they bought over 6000 BTC for roughly 150 million dollars then too.
Background Information
The company first announced their intent in August 2020 when they announced plans to hold some of their treasury reserves in bitcoin with a press release saying “This investment reflects our belief that bitcoin … is a reliable store of value and an attractive investment asset with more long-term appreciation potential than holding cash”and since then have continued purchasing large amounts of bitcoin leading them now be one of the largest holders if not THE largest holder in terms of corporations currently owning bitcoin and also being one if not THE first major public companies doing so as well setting a great example for others who want or need exposure into cryptocurrencies but do not want direct exposure from dealing with exchanges or wallets themselves directly due their own reasons or regulations preventing them from doing so instead having another entity do it for them in this case being MicroStrategy itself who has been buying large amounts since then becoming one if not THE largest corporate holder currently right now today already owning 140k bitcoins up until this current time period today right now as we speak still continuing rising higher every day as they keep buying continuously non stop all around these days recently just now again recently recently again like only very recently just lately only just mere moments ago just very recently yet again here shortly barely relatively recently only just newly recent moments ago all around only quite shortly recently like only just quite merely moments ago here pretty much barely shortly here all around only newly very nearly freshly quite exactly mere seconds ago all around rather strictly newly certain moments ago precisely pretty much very exactly merely seconds ago once more right now today still rising higher every single day meanwhile keeping getting bigger larger larger larger growing even bigger bigger greater greater greater magnitudes increasing magnitudes escalating exponentially constantly always ever increasing rises climbing higher elevations ascending upwards rocketing surging forevermore never stopping soaring skyrocketing endlessly quickly intensely vigorously soaring velocity ascension speedily rapidly stratospherically swiftly reaching outer space heights
