The US company Microstrategy, one of the largest institutional investors in Bitcoin, turned the BTC drops in 2022 into an opportunity and made purchases.
Announcing its last purchase in the first days of April, MicroStrategy stated that with the last purchase, it has a total of 140,000 BTC.
It was stated that the cost of Bitcoins is $ 29,803.
After yesterday's rally in Bitcoin, MicroStategy made a profit from the BTCs it held.
Because MicroStrategy's BTCs have been in loss since June 2022.
BTC is up 6.4% in the last 24 hours and is currently trading at $30,095. This rise means that MicroStrategy's Bitcoin holdings currently exceed $4.2 billion.
When Did MicroStrategy First Bought Bitcoin?
MicroStrategy purchased $250 million worth of Bitcoin for the first time in 2020 as part of the company's BTC strategy.
Michael Saylor, the founder of MicroStrategy, has argued in every statement he has made since 2020 that Bitcoin has the potential to outperform traditional asset classes such as gold and equities.
Michael Saylor, who has already become a vociferous advocate of Bitcoin, states that he will continue to buy BTC.
*Not investment advice.