MicroStrategy CEO Says Company Will Continue to Buy Bitcoin

MicroStrategy has been consistently investing in Bitcoin for the last three years. In August 2020, the company acquired its first batch of 21,000 BTC.

This week, CEO Michael Saylor announced on Twitter that they have purchased another batch of bitcoins worth $147.3 million, bringing their total reserves to 158,245 BTC, valued at $4.68 billion.

The previous purchase was made in June 2023, when the company bought 12,333 bitcoins at an average price of $29,668 per BTC.

Despite the current bearish trend in the cryptocurrency market, MicroStrategy continues to invest in BTC.

However, there are concerns that BTC may drop to $25,000 if selling pressure increases.