Wednesday morning that it spent slightly more than $1 billion buying about 19,452 bitcoin tokens during the recent correction, averaging about $52,756 per bitcoin.to finance its recent bitcoin acquisition, holds roughly 90,531 tokens that it purchased at a combined price of nearly $2.2 billion–less than half the $4.5 billion they're worth at current prices.
In a statement, MicroStrategy CEO Michael Saylor said acquiring and holding bitcoin remains one of the company's two biggest strategic priorities and that the investment"reaffirms [the firm's] belief that bitcoin, as the world’s most widely adopted cryptocurrency, can serve as a dependable store of value."
The move comes less than a day after payments fintech Square, cofounded and led by billionaire Jack Dorsey,it's also doubled-down on its bitcoin investment–investing another $170 million in the cryptocurrency this month after a $50 million investment in October. At current prices, Square's October investment is worth approximately $230 million–more than four times the purchase price; combined with the recent purchase, bitcoin represents about 10% of the cash Square had on hand at the end of last year.
MicroStrategy shares have plummeted 42% since a nearly 20-year high on February 9–the day after Tesla disclosed a $1.5 billion bitcoin investment; much of the plunge has been fueled by crashing bitcoin prices, which have similarly tanked Tesla shares."Bitcoin is a bank in cyberspace for people that don't have the ability to run their own hedge fund," Saylor said on CNBC Tuesday.
Guys pls me check and rate the pinned tweet on my profile page 🥺♥️🙏 Thanks in advance
Anyone think China Behind The Recent Bitcoin Dump? & The Kraken Exchange ?Manipulation?
Aka we tricked Forbes into writing an article hoping to drive the price of Bitcoin up to get out money back
🚀 again.. moment BTC
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