MicroStrategy Buys More Bitcoin Amid Crypto Dip

  • MicroStrategy has purchased 229 additional bitcoins for about $43,663 each.
  • The firm now holds and manages 92,079 bitcoins.
  • Bitcoin and major altcoins took a massive dip after Tesla CEO Elon Musk halted bitcoin payments for car purchases.

Amid massive outrage in the crypto community in relation to Bitcoin’s recent falloff from the $50,000 mark, enterprise analytics firm MicroStrategy has purchased additional bitcoins.

The firm bought an additional 229 bitcoins at an average price of $43,663 per BTC. According to a tweet by CEO Michael Saylor, they bought the bitcoins in cash at a total of $10 million. Currently, the firm now holds and manages 92,079 bitcoins acquired for $2.251 billion at an average price of $24,450 each.

At Bitcoin’s current price of $43,168.37 according to CoinGecko, the 92K bitcoins are worth almost $4 billion.

Nevertheless, Bitcoin remains in the red after Tesla CEO Elon Musk announced that his electric car company will not be accepting bitcoins for car purchases. This caused the crypto market to crash heavily. Consequently, many Bitcoin supporters who held Tesla stocks sold their holdings and ranted against Elon.

Later on, Elon wrote a tweet, attempting to get the record straight regarding Tesla’s BTC holdings.

Bitcoin dominance is down at 38.3%, according to CoinGecko. Likewise, its market capitalization has gone down to $800 billion, which is $200 billion shy from returning to the $1 trillion mark.

In another news, Polygon (MATIC) recently hit its all-time high (ATH) at $2 amid announcements of its partnership with an Indian state for storing COVID-19 test results securely.

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