MicroStrategy has purchased more Bitcoin as the digital asset rebounds from recent losses. Earlier today, BTC was down 8% and traded around $31,000. At press time, however, the leading crypto asset has advanced 3.55% to $32,981.35.
On the 22nd of January, MicroStrategy confirmed its latest BTC acquisition in an announcement. According to the announcement, the acquisition is worth $10 million. MicroStrategy revealed that the company purchased approximately 314 Bitcoins at $31,808 per BTC, inclusive of fees and expenses. The company now holds about $70,784 Bitcoins in total.
In the announcement, MicroStrategy added:
“As of January 22, 2021, the company holds approximately 70,784 bitcoins that were acquired at an aggregate price of $1.135 billion and an average purchase price of approximately $16,035 per Bitcoin, inclusive of fees and expenses.”
MicroStrategy began its BTC acquisition last August when It purchased 31,454 BTC worth $250 million at the time of purchase. The company also revealed plans to make Bitcoin its primary reserve asset.
At the time of MicroStrategy’s initial acquisition in August, the company was trading at around $135 with a market cap of $1.3 billion. Now, MicroStrategy has pulled in gains and climbed 291.17 over the past twelve months. Currently trading at $559.98, the company is 7.59% up its previous close of $520.46. MicroStrategy also boasts of a market cap of $4.82 billion.
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