MicroStrategy buys another 480 Bitcoin
Saylor remains bullish
Business intelligence firm MicroStrategy announced yesterday it added to its Bitcoin holdings between May 3 and June 28.
According to paperwork filed with the US Securities and Exchange Commission Wednesday, the firm purchased an additional 480 BTC at an average price of roughly $20,817. The total amount spent was around $10 million.
The new purchases bring the company's holdings to 129,699 BTC with a $30,664 average price, a total of $3.8 billion spent buying the cryptocurrency. However, its stash is currently valued at $2 million, according to data shared by Bitcoin Treasuries.
When Bitcoin started to crash earlier this month, CEO Michael Saylor remained bullish, sharing on Twitter that when MicroStrategy adopted a Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to HODL (hold on for dear life) through adversity.
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