•Bitcoin rose significantly during these moments of trading, today, Monday, above the level of $53,000, after erasing all of its daily losses, to now rise by about 1.7% in the last 24 hours.
•This comes in conjunction with MicroStrategy, a company that has made buying Bitcoin part of the company's investment strategy, purchasing another 3,000 or so of the largest cryptocurrency tokens by market capitalization this month for $155.4 million.
•This brought the value of the company's holdings to approximately $9.88 billion, based on currency market rates. The most recent cash purchases were made between February 15 and 25, according to a filing with the U.S. Securities and Exchange Commission on Monday. This brings the company's total holdings to approximately 193,000 Bitcoin.
•Michael Saylor, Chairman and Co-Founder of MicroStrategy, began buying Bitcoin in 2020 as an inflation hedge and an alternative to holding cash. Saylor said in an interview on Bloomberg TV last week that there was "no reason to sell" when asked when the company might sell its Bitcoin holdings. The value of the cryptocurrency has risen by approximately 460% since Saylor started buying.
•The average purchase price was $51,813, while the average total ownership price was $31,544, according to the filing.
•The value of the property briefly swelled to $10 billion earlier this month when the price of bitcoin reached its highest level in more than two years.
•Meanwhile, Bitcoin is now up about 1.7% in the last 24 hours to $53,425, while Ethereum is up 1.9% to $3,157. Binance Coin increased by 2.7% to $397.
