Buy the Dip: Microstrategy Grabs $15 Million More Bitcoin — Now Holds 91,850 BTC in Treasury
Nasdaq-listed Microstrategy has bought the dip and purchased $15 million more bitcoins, taking advantage of the falling price for the cryptocurrency after Tesla CEO Elon Musk revealed that his company has suspended accepting bitcoin for payment. Microstrategy now holds about 91,850 bitcoins.
Microstrategy announced Thursday that it has purchased $15 million more in bitcoin. CEO Michael Saylor tweeted:
Microstrategy has purchased an additional 271 bitcoins for $15.0 million in cash at an average price of ~$55,387 per bitcoin.
In the company’s filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy declared that as of May 13, the company holds about 91,850 bitcoins that it acquired for approximately $2.241 billion at an average price of about 24,403 per bitcoin.
The price of bitcoin is currently $50,250 based on data from markets.Bitcoin.com. It plummeted Wednesday evening to a low of $45,700 but regained some of the losses after Elon Musk announced that Tesla has suspended accepting bitcoin payments.