The American fin-tech company MicroStrategy, just a few days after the acquisition of 329 BTC, purchased another 206 BTC, even though the stock price of the company itself reduced by more than a half.
MicroStrategy CEO Michael Saylor stated the purchase of Bitcoins went at an average price of $48,888. Nevertheless, investors are looking to be losing trust in the company. In February, the rate of MicroStrategy shares scored a record level of $1,316. However, in the current first week of March, their value dropped by more than 50% from the February ceiling – to $646.
In spite of this, the company’s management opted not to unload Bitcoins, but to further replenish crypto reserves. Counting the last purchase, MicroStrategy presently holds 91,064 BTC. The company’s overall investment in Bitcoin stands at $2.19 billion acquired at an average cost of about $24,120.
Earlier this week, MicroStrategy acquired 329 BTC for $15 million in cash, despite an ongoing adjustment in the cryptocurrency market. This comes after an acquisition of $1B in Bitcoin. Sailor stated he will continue to invest in Bitcoin, sometimes investing extra cash in it. Furthermore, depending on market circumstances, the firm may issue bonds or equity securities to boost its capital. The profits MicroStrategy will then invest in Bitcoin.
Sailor noted that he formerly preferred invested in shares of the few major tech companies but investing in Bitcoin feels like a much more appealing prospect to him.
