Another Monday, another bitcoin bonanza for MicroStrategy! The corporate titan of bitcoin is at it again, splashing out a whopping $209 million to snag 2,136 BTC. This marks their eighth Monday spree, pushing their colossal crypto collection to over 446,000 BTC.
Michael Saylor, the mastermind behind MicroStrategy, dropped the news bomb earlier today, revealing they scooped up the latest batch at an average of $97,837 per bitcoin. Their grand total? A jaw-dropping $28 billion spent, averaging out to $62,428 per BTC.
Even though bitcoin's price has taken a little dip, sitting around 15% below its recent record high, MicroStrategy's treasure trove is now valued at a staggering $41.5 billion. That means they're sitting pretty on an unrealized profit of more than $13 billion. Talk about a tidy sum!
Of course, no good story is complete without a skeptic. Enter Peter Schiff, the notorious bitcoin naysayer. He’s quick to criticize Saylor’s strategies, suggesting that these “smaller buys” won’t keep bitcoin’s price on the up and up.
Meanwhile, bitcoin itself has been on a bit of a rollercoaster, dropping from over $108,000 to $93,000 after a recent Federal Open Market Committee (FOMC) meeting. But in the wild world of crypto, who knows what tomorrow will bring? One thing’s for sure: MicroStrategy is not backing down from its bitcoin quest anytime soon!
