Monday, May 20, 2024

Nine days after Microstrategy, a company listed on the stock market, bought 6,455 bitcoins (a type of digital currency), their CEO Michael Saylor announced they had purchased 1,045 more bitcoins to make a total of 140,000. All those bitcoins together are worth around $3.97 billion dollars.

685 Billion USD Invested in Bitcoins by Microstrategy!

The company, Microstrategy, just bought a bunch of Bitcoin. They already had 140,000 coins and just added 1,045 new ones to their collection on April 5th. That’s an amount worth $150 million dollars! They now have the most bitcoins out of any other firm in the world which is 0.667 percent of all Bitcoins out there – up to 21 million can exist.

On Wednesday, a company called Microstrategy bought 1,045 Bitcoins for about $29.3 million USD each at an average cost of around $28,016 per Bitcoin. As of April 4th, 2o23 that same company had purchased 140,000 total Bitcoins for a total cost of about $4.17 billion USD or roughly around $29,803 per Bitcoin on average.

Galaxy Digital has the second-most bitcoin of anyone, with 40,000 Bitcoin. Microstrategy has the same amount as Block.one and only 1,686BITCOIN less than what is being held by a court in Tokyo from Mt. Gox. They have been buying bitcoin since August 2020, adding to their collection slowly but surely using something called “dollar-cost averaging”.

What do you think will happen with Microstrategy’s plan to use Bitcoin? Tell us what you’re thinking in the comments.

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