MicroStrategy, the business analytics software company founded by bitcoin bull Michael Saylor, has added to its cryptocurrency holdings by purchasing another $414 million.
In a tweet today, Michael Slayer said,
“MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTR“
MicroStrategy looks to have taken advantage of bitcoin’s recent price drop to increase its holdings in the world’s most-traded digital currency.
Michael Slayer has been the most bullish investor of bitcoin. Moreover, he even advocates bitcoin as the only possible escape from our present financial system. To understand better, you can watch his “What is Money Show”, where Slayer doesn’t draw back in explaining how important bitcoin is for human evolution and also why it is the ultimate asset one should ever own.
Even though Slayer bought the bit, but he was a bit late here. Earlier in the week we also saw Nayeb Bukele, the president of El Salvador, also add 100 bitcoins to their HODLing.
Bitcoin has lost 20% of its value after hitting a new high earlier this month, as a potentially dangerous new variant of the coronavirus prompted traders all around the world to sell risky assets.
On Friday, the world’s largest cryptocurrency plummeted as much as 9% to $53,552. Ether, the second-largest digital currency, has dropped more than 12%, while the Bloomberg Galaxy Crypto Index has dropped as much as 7.7%.
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