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• Microstrategy has earned over 110,000 bitcoin tokens.
The trading software company profited more than 100% from last year’s BTC investment.
Acceptance of cryptocurrencies has increased as bitcoin prices hit an all-time high. MicroStrategy recently announced that it has purchased a large amount of BTC again.
With these announcements, the name of the developer of the program joins the growing interest that entrepreneurs such as Ilan Musk, CEO of Tesla, and Jack Dorsey, CEO of Twitter, have planted in the field of cryptocurrencies.
MicroStategy buys more bitcoins
MicroStrategy recently bought more than 5,000 bitcoin tokens to join the decentralized market, said Michal Silver, CEO. Silver states that the new purchase cost them about $ 243 million during the transaction, depending on the value of the token. With this purchase, the company has stored more than 110,000 bitcoins.
However, MicroStrategy bought up when Bitcoin was trading above $ 48,000, and today, after a week of losses, it has fallen to $ 44,000. But because the currency is volatile, it is likely to reach higher values in the coming weeks.
The first time the American company BTC bought it was in August last year. MicroStrategy invested about $ 3 billion in the token and traded for nearly $ 28,000. If the 2020 value is compared to the current price, the company has doubled its investment.
But the cryptocurrency token does not stay in the $ 40,000 line because, according to cryptologists, the BTC will inevitably exceed $ 50,000 or $ 60,000 before the end of the year.
Not only has MicroStrategy chosen to buy Bitcoin since last year, but Tesla CEO Ilan Musk has also been a part of it. However, the head of the car company did not reveal how many tokens he had bought.
Like thousands of cryptocurrency enthusiasts, both entrepreneurs have benefited from the rise of bitcoin. Bitcoin is having a bad week, losing 13.76% of its value. But for some investors, the downtrend is an opportunity to buy BTC and is expected to rise next week.
Not only did BTC lose value in the first weeks of September, but Solana did not stop growing. SOL loses more than 10% of its price in less than 24 hours and trades at $ 158.20. Atrium is also affected by this bad line. Ether lost 3.02% of its capital compared to yesterday’s price. Today, the price of ether reaches $ 3214.