Another red day in the markets as the German Government turns out not to be a Bitcoin (BTC) seller. These BTC were initially confiscated from the operator of Movie2k.to, a film piracy site. So far, more than $195 million worth of BTC has been sold on exchanges. With $3.05 billion left in their wallets, the market is concerned about further selling that would likely drive down the price of BTC. Despite the bearish conditions, MicroStrategy bought the dip with another $786 million Bitcoin purchase. The company now holds 226,331 BTC worth nearly $15 billion. If Bernstein's revised analyst target of $200,000 per BTC by the end of next year turns out to be correct, then MicroStrategy may be in for a big win. 🤑

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source: coinmarketcap