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MicroStrategy has announced yet another BTC buy, adding 1,070 bitcoin to its reserves for $101 million.
What’s The Scoop?
- Average Cost of Recent Buy: MicroStrategy paid an average of $94K per
Bitcoin in its most recent purchase - Current Holdings: This most recent purchase now brings MicroStrategy’s total Bitcoin holdings to just over $44B.
- Future Outlook: MicroStrategy plans to issue $2B in preferred stock to purchase more Bitcoin and add to its growing reserve.
Bankless Take:
Michael Saylor is showing no signs of slowing investment in MicroStrategy’s Bitcoin reserve. However, the market seems to have a negative outlook on this game plan as MicroStrategy’s stock price has fallen 40% since November as the company continues to issue new shares. With this most recent purchase, MicroStrategy's average purchase price per Bitcoin is just just under $63K.
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