MicroStrategy, the world’s largest corporate holder of bitcoin, has made its eighth consecutive Monday purchase, allocating $209 million to acquire 2,136 BTC. This latest acquisition brings the company’s total stash to over 446,000 BTC, valued at approximately $41.5 billion.
Accumulation Phase Continues
The purchase was made at an average price of $97,837 per bitcoin, with MicroStrategy now holding 446,400 BTC acquired for approximately $27.9 billion at an average price of $62,428 per bitcoin. This marks the company’s continued accumulation phase, following multi-billion dollar acquisitions in November and early December.
Unrealized Profit
Although bitcoin’s price has tumbled 15% in the past couple of weeks, MicroStrategy’s holdings have a current value of $41.5 billion, resulting in an unrealized profit of more than $13 billion.
Criticism from Peter Schiff
BTC critic Peter Schiff has once again criticized MicroStrategy’s purchases, claiming that they are the only thing keeping the asset’s price rising. However, it remains to be seen whether this latest purchase will have a significant impact on the market.
Bitcoin Price
As of now, bitcoin’s price stands at around $93,000, following a recent decline from over $108,000. The latest FOMC meeting for the year may have contributed to this price drop.
Source: Cryptopotato.com
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