Microstrategy buys bitcoin dip

Microstrategy bitcoin

Tesla CEO Elon Musk’s remark on bitcoin energy usage and bitcoin payment suspension for Tesla has created turmoil in the crypto market. Bitcoin prices went down nearly by a 20% all-time (ATL) low in the last 12 months. But despite this, the bitcoin bulls are strongly supporting and buying the Dip.

Bitcoin Price Trend
bitcoin price trend, source: CoinGecko

Michael Saylor, CEO of MicroStrategy is one of the most vocal supporters of bitcoin. Last week on May 13, MicroStrategy increased its bitcoin holding by $15 million at an average price of ~$55,387 per coin.

Today, MicroStrategy has scooped up another $10 million worth of bitcoin. According to its May 18 SEC filing, the company has purchased yet another $10 million worth of bitcoin at an average price of $43,663 per coin.

You can check the SEC filing here

After this purchase, the company’s current bitcoin holding is 92,079 that is worth an estimated $2.251 billion.

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[…] crypto exchange by value of BTC held in its treasury. The first on the list is no other than MicroStrategy that has bought Bitcoin multiple times during the recent […]

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