MicroStrategy Continues to Buy Bitcoin Despite Price Fluctuations - Latest cryptocurrency news

MicroStrategy Continues to Buy Bitcoin Despite Price Fluctuations

According to reports, MicroStrategy company purchased a total of 16,130 BTC worth $593.3 million, with an average cost of $36,785 per Bitcoin, as the unit price of Bitcoin dropped to around $37,700. With this purchase, MicroStrategy now holds a total of 174,530 BTC, with an average cost per unit of $30,252, and a total value of $5.28 billion.

MicroStrategy’s CEO, Michael Saylor, has converted the company’s shares into an actual spot Bitcoin ETF and continues to buy Bitcoin despite price increases. In the past, it has been written that the company successfully identified price bottoms at the points of purchase and that prices reached new highs after the purchases.

Technology & Populer Science News: Newslinker.co

If the same situation occurs this time, it is expected that the price of Bitcoin will surpass the $40,000 resistance level.

Looking at the graph, the classic downward trend following the news can be seen. This has become a joke among investors and repeats after each purchase.

It is emphasized that MicroStrategy’s Bitcoin purchases affect the market, the buying strategy can predict Bitcoin’s bottom points, and investors’ reaction has become a recurring joke.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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