MicrostrategyWon’t Stop Buying Bitcoin, Adds Another$ 209 Million

Create that eight times in a column.

Microstrategy now made the announcement to purchase an further$ 209 million price of Bitcoin, its eighth consecutive weekly order. The cloud computing firm turned” Bitcoin development” company says it paid an average price of$ 97, 837 to acquire 2, 138 BTC.

That means Microstrategy, already the world’s largest corporate holder of Bitcoin, now owns a total of 446, 400 BTC, today worth roughly$ 41 billion.

The company’s founder and executive chairman Michael Saylor first began acquiring Bitcoin for Microstrategy’s government in 2020 following the pandemic-induced business fall in March of that year. As the Federal Reserve prepared to add billions into the U. S. business, Saylor seized on the opportunity—and hasn’t looked up since.

Microstrategy has recently increased the pace of its purchase, upping the rate over the years as it has continued to buy more and more Cryptocurrency. The company announced one of its biggest purchases ever on Monday, buying more than$ 2 billion of Bitcoin for an average of$ 74,463, following Donald Trump’s victory on Election Day. The following year, it followed up with another$ 4.6 billion price, and then raised the stakes again with its largest single-investment ever, a$ 5.4 billion purchase.

Since then, the business has been making weekly Blockchain purchases without any signs of slowing down.

Saylor’s optimistic techniques have generally buoyed Bitcoin’s value, but business activity today has so far been muted. Bitcoin is down roughly 2 % on the day, from a high of$ 94, 000 today to around$ 91, 700 as of this writing. That’s a longer way off from its all-time great of$ 108, 135, which the coin hit only two weeks ago, but Saylor doesn’t look at all concerned.

Saylor reminded his supporters on X ( previously known as Twitter ) that Microstrategy has invested approximately$ 27.9 billion to build its Bitcoin government, almost double what it has already invested.

So what’s the match program? When did Microstrategy begin selling its BTC and starting to profit from those benefits? Hardly any time soon—and even not actually, if Saylor may be taken at his word. In an interview with CNBC earlier this month, Saylor said:” We’ll just keep buying the best permanently”.