Breaking: MicroStrategy Buys Additional 5K Bitcoin ($BTC) Worth $243 Million

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Microstrategy has continued its Bitcoin buying streak in September as the company bought an additional 5,050 BTC worth $242.9 million at $48,099 per $BTC. The latest purchase takes MicroStrategy’s total Bitcoin investment to over $3 billion. This would also mark the Fortune 500 companies’ biggest one-time cash purchase. The company now holds a total of 114,042 BTC on its balance sheet.

The recent cash purchase by MicroStrategy has also shut down rumors of a possible Bitcoin dump by the company which was on the rise post the last week’s flash crash. A recent report suggested that top executives in the company unloaded a total of over $120 million in $MSTR shares. This in turn gave fuel to the fire about the company’s Bitcoin dump even though CEO Michael Saylor has reiterated that the company has no intention of selling anytime soon.

 

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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