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Breaking: MicroStragety Buys More Bitcoin as Price Sees Mild Recovery

4 d ago1 min readBitcoin
Breaking: MicroStragety Buys More Bitcoin as Price Sees Mild Recovery

Business intelligence firm MicroStrategy has acquired another $6 million worth of Bitcoin for $19,851 per coin, according to a regulatory filing published earlier this Tuesday.

The Tysons, Virginia-headquartered firm now and its subsidiary own a total of 130,000 bitcoins that were acquired for about $3.89 billion.

The company is down roughly $1.5 billion on its extremely audacious Bitcoin bet that is now widely viewed as a failure.

However, despite sitting on humongous losses, the company is not backing away from its strategy, with its former CEO Michael Saylor remaining an ardent proponent of the largest cryptocurrency.

Bitcoin is currently trading at $19,170 on the Bitstamp exchange, adding roughly 2.44% over the past 24 hours.

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