Microstrategy Buys $1 Billion More Bitcoin Following Currency Dip

The year started out great for BTC and other cryptocurrencies. Digital assets experienced massive bull runs since the beginning of the year. Ether toppled the $2000 record high, BTC also sustained over the $50,000 psychological high and even almost got to about $60,000.

This was all majorly as a result of rising mainstream investments. Emergence of well-known crypto whales in the year 2021 have been spiking up prices with great momentum.

Although, this was short lived after major currencies landed in deep plunges that have dented many investors and their portfolios. Tesla is a great example. They experienced a $200 billion loss after the Bitcoin dip, yet here MicroStrategy is, investing more even after apparent losses.

Many may dub their decision as poor investment choices with the latest plunges in Bitcoin’s price. In my opinion, this is more of a wise decision as incoming bulls will overshadow this dip therefore earning the company potentially massive gains in the future .

The company’s crypto investments started in August, last year. That was when the popular business intelligence body began to round up significant amounts of BTC. This year the investments continue even in the state of a mass crypto decline yet MicroStrategy remains relentless.

The CEO further explains that the company “remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin.” I think this statement indicates that the company is going to stand by Bitcoin and buy more even if more potential dips occur.

The company outwardly expresses full support for crypto assets.” bitcoin, as the world’s most widely-adopted cryptocurrency, can serve as a dependable store of value,” MicroStrategy explained.

The company’s overall aggregate BTC holdings were purchased at the price of about $2.17 billion and on average, $23,985 per token. The additional crypto purchased by the company was bought with the proceeds from this month’s initial purchase.

Overall, MicroStrategy holds about $4.48 billion in crypto and they say that “We will continue to pursue our strategy of acquiring bitcoin with excess cash,” MicroStrategy’s Chief Executive Officer, Micheal Saylor said.

In my opinion the company drives a nice solid strategy that will push gains and share prices to great extents in the future. With strong support for digital assets, I think Microstrategy is well on its way to becoming more prominent than ever before.