MicroStrategy Confirms $250M Bitcoin Acquisition in Latest Buy

Can MicroStrategy's latest BTC purchase stop the asset's price fall?

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Monday has arrived again, which is obvious by the latest announcement from MicroStrategy about its new multi-million dollar BTC purchase.

This comes amid an ongoing correction for the largest cryptocurrency, which dumped to a new yearly low of under $91,000 earlier today.

After last week’s more modest purchase of roughly $100 million, the world’s largest corporate bitcoin holder has splashed nearly $250 million this time to acquire 2,530 BTC.

The average price comes at $95,972 per BTC, and the total stash has grown to precisely 450,000 BTC, bought at an average price of $62,691.

The latest acquisition comes at a rather bad time for bitcoin’s price. The cryptocurrency stood close to $96,000 earlier this morning but slumped by over five grand within hours and plunged to its lowest position since November of under $91,000.

MSTR’s price has also taken a hit on a monthly scale, being done by 20% since mid-December. The shares went downhill after the company’s inclusion into the NASDAQ 100.

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About the author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.