- MicroStrategy Continues Investing in Bitcoin
- Market Reaction and Current Prices
- Community Opinion on Michael Saylor
MicroStrategy has added $458.2 million worth of Bitcoin to its coffers, according to co-founder Michael Saylor's announcement on Friday.
MicroStrategy Continues Investing in Bitcoin
Currently, MicroStrategy holds 252,220 Bitcoins, totaling approximately $15.85 billion at current prices. Notably, the company already owns 1.25% of all Bitcoin in circulation. The average purchase price stands at $39,266 per coin.
Market Reaction and Current Prices
The company is sitting on an impressive profit of $5.95 billion at current market prices. On Friday, the price of Bitcoin briefly surged above the $64,000 mark; however, the massive purchase had little impact on the market as MicroStrategy's moves are mostly priced in.
Community Opinion on Michael Saylor
Despite the heavy investments, Michael Saylor is not universally beloved in the Bitcoin community. Earlier this week, he received backlash from some members after suggesting that traditional financial firms like JPMorgan could successfully offer Bitcoin yield.
Thus, MicroStrategy continues to actively invest in Bitcoin despite differing opinions within the community.
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