MicroStrategy, the world’s largest corporate holder of bitcoin, has made another significant purchase, allocating $209 million to acquire 2,136 BTC. This latest purchase brings the company’s total holdings to over 446,000 BTC, valued at approximately $41.5 billion.
Accumulation Phase Continues
This is the eighth consecutive Monday purchase by the company, with the latest acquisition made at an average price of $97,837 per bitcoin. Since the start of the year, MicroStrategy has spent around $28 billion to accumulate its bitcoin holdings at an average price of $62,428.
Unrealized Profit Reaches $13 Billion
Despite the recent decline in bitcoin’s price, MicroStrategy’s holdings have a current value of $41.5 billion, resulting in an unrealized profit of over $13 billion.
Criticism from Peter Schiff
The latest purchase has been met with criticism from Peter Schiff, a well-known bitcoin critic, who claims that MicroStrategy’s purchases are the only factor driving up the price of bitcoin.
Bitcoin Price Update
Bitcoin’s price has declined by 15% in the past couple of weeks, falling from over $108,000 to its current level of $93,000.
Source: Cryptopotato.com
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