MicroStrategy Bought Additional $94 Million Worth Of BTC

Microstrategy bought an additional $94 million worth of BTC as the price of the number one cryptocurrency dropped to $49,229 as of late so let’s read more in today’s latest Bitcoin news.

Microstrategy, the well-known company led by prominent BTC maximalist Michael Saylor, announced today that his company Microstrategy bought an additional $94 million worth of BTC. The company made a name for itself in the past few years when it came to acquiring BTC. Today, Saylor announced that the company purchased another 1,914 BTC for $94.2 million in cash. The average price of the purchase was around $49,229 per coin. At the time of writing, the company owns 124,391 BTC which is worth nearly ,75 billion.
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MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per #bitcoin. As of 12/29/21 we #hodl ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin. $MSTRhttps://t.co/tNxDwaT8VD

— Michael Saylor⚡️ (@saylor) December 30, 2021

As recently reported, Microstrategy could lend their BTC of the company and generate more yields according to the latest reports from Michael Saylors’ company. On a corporate, this decision makes a lot of sense but what kind of implications will this decision have? The lending should surprise no one because Saylor dropped many hints that he intends to do it for a while and all of this information came from the company’s investor day call with the shareholders a few days ago.

Microstrategy could lend BTC and it is still thinking about it and there are few options on the table yet. Even if they choose to lend the BTC for yield there are some infinite possibilities there and what does a “trustworthy counterparty” actually mean? It is just a company that can guarantee custody and yield and return their BTC or are they talking about a company that will use the BTC in an ethical way and not shorts their investments. This is one of the reasons that strong BTC supporters are against lending. People that borrow BTC use it to short BTC And they bet against the asset to bring the market down.

The business intelligence corporation Microstrategy acquired nearly 9000 BTC in the third quarter of the year and now the company holds around $7 billion worth of the main digital asset. MicroStrategy announced the results in the Q3 earnings report and according to it, the company acquired 8957 BTC between July and October to a cost of $420 million while the average price per coin was set at $46,876. now, the entire stash reached 114,042 BTC while the USD value of the leading cryptocurrency stands at $61,000 which means the company’s holdings are worth a little over $7 billion and now with the new addition, even more.