Microstrategy buys $ 489 million worth of Bitcoin – company now holds more than 100,000 BTC – Bitcoin News

The independent, publicly traded business intelligence company Microstrategy announced on Monday that it had acquired 13,005 Bitcoin for a purchase price of approximately $ 489 million in cash. The company’s CEO Michael Saylor announced the latest purchase on Twitter, and the company now has more than 100,000 bitcoins on its balance sheet.

Microstrategy now holds 105,085 Bitcoin

Michael Saylor’s Microstrategy company now has approximately 105,085 bitcoins that it bought for approximately $ 2.741 billion. Using the shopping average, the company says it bought all of the BTC for around $ 26,080 per bitcoin including fees and expenses.

As usual, Microstrategy CEO Michael Saylor tweeted Its 1.2 million Twitter followers tell about the purchase. “As of 6/21/21 #hodl ~ 105.085,” said Saylor on Monday morning.

Not everyone was impressed with Microstrategy’s Bitcoin purchase announcement, and some people like Peter Schiff made derogatory comments. “It’s pretty pessimistic that you’ve already bought all of those bitcoins and the price kept falling anyway,” Schiff said answered on Saylor’s tweet on Monday.

“Imagine where Bitcoin price would be today if Elon Musk, Michael Saylor, Barry Silbert and all the other Bitcoin elites and their friends in the financial media hadn’t spent the last six months taking private and institutional investors away from it convince them to buy their worthless. “Token”, ship said the day before, when the price of Bitcoin started falling.

Also Sven Henrich from Northman Trader replied to Saylor’s announcement. “Understand the belief. However, the question: Since both the price average and the leverage used have increased, what is the risk profile / the consequence if Bitcoin were to fall below the average holding price? ”Henrich asked the CEO of Microstrategy.

When someone asked Henrich if Saylor’s choice turned out to be a good bet, the Northman trader moved on commented. “I don’t want to say he’s wrong,” answered Henrich. “Only ask about the risk profile, if [the] The price falls below the average holding price. “

The price continues to drop below the Microstrategy purchase, according to the latest crypto release from PBOC

Microstrategy’s purchase of 13,005 BTC follows recent news from the Chinese central bank. On June 21, 2021, the People’s Bank of China (PBOC) notified a number of financial institutions regarding crypto transactions.

Since then, BTC has fallen 4% in 24 hours and is just above the $ 32K handle. In other words, the price has actually fallen below the price that Microstrategy paid per coin for this latest BTC acquisition.

Other Bitcoin proponents also responded to Saylor’s tweet. “Time to deliver the next billion,” software developer Jameson Lopp tweeted. One person made a joke of Lopp’s testimony said: “Corrected: Time to use the next billion borrowed.”

“Contrary to popular belief, unfortunately, you can’t buy the dip indefinitely,” says one individual said To the many enthusiasts who tell the Microstrategy CEO to “keep buying the dip”.

What do you think of Microstrategy buying 13,005 Bitcoin and aggregating more than 100,000 Bitcoin in total? Let us know what you think on this matter in the comments below.

Tags in this story

Bitcoin (BTC), Bitcoin Buying, Bitcoin Microstrategy, Bitcoin Prices, Bitcoin Buying, BTC, Michael Saylor, Microstrategy, Microstrategy BTC Buying, Microstrategy Ceo, Northman Trader, Peter Schiff, Sven Henrich

Photo credits: Shutterstock, Pixabay, Wiki Commons

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source https://bidsfor.me/microstrategy-buys-489-million-worth-of-bitcoin-company-now-holds-more-than-100000-btc-bitcoin-news/

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