Yesterday, MicroStrategy bought 51,780 bitcoins for $4.6 million, which is the largest amount it has ever purchased. This brings the company’s total holdings to over $29 billion, or 331,200 BTC. MicroStrategy started buying bitcoins in 2020 as a hedge against inflation and has been using the proceeds from share sales and loan sales to finance these purchases.
Michael Saylor, who is confident in Bitcoin’s performance, believes the price of the cryptocurrency will continue to rise and reach $100,000 by December.
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