Bitcoin

In a significant development, MicroStrategy, a prominent business intelligence company under the leadership of CEO Michael Saylor, has made headlines in the cryptocurrency sphere yet again. The company recently unveiled a substantial acquisition of Bitcoin, marking its continued involvement in the digital asset space.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/d0fb240dea1943f38bc3d52570dcf539.png" />Over two months, from April 29 to June 27, 2023, MicroStrategy and its subsidiaries <a href="https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-12333-bitcoins-and-now-holds-152333-btc_6-28-2023" rel="noopener noreferrer nofollow">acquired</a> an impressive 12,333 Bitcoin, amounting to a staggering $347 million in cash. The average price per BTC in this acquisition was approximately $28,136, factoring in fees and expenses.This recent purchase by MicroStrategy is the most significant acquisition the company has made this year, surpassing its previous purchases in March and April, totaling 7,500 BTC valued at $179.3 million.Interestingly, the buying spree conducted by Michael Saylor and MicroStrategy has caught the attention of seasoned market participants, who speculate that these moves might signal a local top for BTC prices. Notably, on the day of Saylor&#39;s <a href="https://twitter.com/saylor/status/1640325496654143488?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1640325496654143488%7Ctwgr%5E9e3f7b7c25e54233b2a809a8e5a440cc1fc065cd%7Ctwcon%5Es1_&amp;ref_url&#61;https%3A%2F%2Fcointelegraph.com%2Fnews%2Fmichael-saylor-s-microstrategy-repays-silvergate-loan-and-buys-6-5k-btc" rel="noopener noreferrer nofollow">announcement</a> in March, Bitcoin&#39;s price experienced a 5% drop. Similarly, following another purchase by MicroStrategy on April 5, the price of Bitcoin fell by over 3% during the same day.Read full article at <a href="https://cryptotale.org/microstrategy-expands-bitcoin-holdings-with-347-million-purchase-of-12333-btc/" rel="noopener noreferrer nofollow">CryptoTale.</a>

MicroStrategy Expands Bitcoin Holdings with $347 Million Purchase of 12,333 BTC

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