$5.4 Billion: MicroStrategy Announces Record-Breaking Bitcoin Purchase

MicroStrategy has stunned the market with yet another enormous Bitcoin purchase

Business intelligence firm MicroStrategy has announced its biggest Bitcoin purchase to date.

The Virginia-based company added 55,500 BTC, shelling out $97,862 per coin.

Following the recent gargantuan purchase, MicroStrategy holds a total of 386,700 BTC.

The company now needs the Bitcoin price to be above $56,761 for its Bitcoin holdings to remain profitable.

The price of Bitcoin dipped to $97,362 following the Monday announcement, which was more or less expected by the market.

The MicroStrategy stock is also unfazed by the recent announcement. It is currently up by roughly 3%.

The company's stock is up a staggering 515% over the past year. However, there are mounting concerns about the viability of its audacious debt-for-Bitcoin strategy.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

TopCryptoNewsinYourMailbox

$5.4 Billion: MicroStrategy Announces Record-Breaking Bitcoin Purchase

Related articles