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Bitcoin’s price might be down in the past few days but some investors remain unfazed by the decline. In fact, MicroStrategy used the opportunity to scoop additional 9,245 BTC for approximately $623 million.
The purchase was announced by Michael Saylor – Executive Chairman of the business intelligence company. He clarified that the transaction was facilitated via proceeds from convertible notes and excess cash. MicroStrategy has acquired an additional 9,245 BTC for ~$623.0M using proceeds from convertible notes & excess cash for ~$67,382 per12,000 BTC for a whopping $800 million. The company’s entire stash of 214,246 BTC equals more than $13.5 billion .
It was acquired for approximately $7.5 billion at an average price of $35,160 per Bitcoin, meaning MicroStrategy is currently sitting on a $6 billion profit .One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
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