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18 January 2021

MicroStrategy Engages in Its Third Major BTC Purchase This Year | Live Bitcoin News

MicroStrategy Engages in Its Third Major BTC Purchase This Year | Live Bitcoin News


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As an institutional investor, the company has been rather open about its love and respect for bitcoin, which it’s now taking to a whole new level thanks to its recent purchase of additional bitcoin units above the $19,000 price.

However, MicroStrategy proved that it wasn’t ready to quit, and despite a heavy drop by more than $1,000 a month later, September saw MicroStrategy buy another $175 million in BTC units, thereby bringing its total bitcoin total to more than $400 million, roughly the same amount lost by the Mt.

This proved to be a major gamble considering September was showing relatively bearish behavior for the asset, but things eventually worked out as at the time of writing, bitcoin is trading for well over $19,000, meaning that MicroStrategy has made about $9,000 on each unit of bitcoin it purchased three months ago.

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