MicroStrategy is taking another step toward bitcoin (EXANTE: Bitcoin) monopoly as the company purchased an additional 19,452 BTCs for approximately $1.026 billion in cash. According to an official announcement, the company now hodls 90,531 BTCs, which were bought at an average purchase price of $23,985 per BTC.
MicroStrategy CEO, Michael Saylor, said the company "will continue to pursue" its business strategy of purchasing additional bitcoin.
"The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin," he added.
Thus, MicroStrategy's purchase came right after the cryptocurrency futures market saw the largest amount of liquidations in its history. The largest cryptocurrency by market capitalization faced a major correction and dipped below the $50,000 mark. As of press time, bitcoin is trading at $49,698 (+3.85%).
Earlier in January, Saylor said that investing in bitcoin is more profitable than investing in early-stage tech stocks. According to him, large amounts of money are arriving to the cryptocurrency market from traditional ones such as forex, stocks and bonds.
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