Another day, another batch of Bitcoin (BTC) purchases for the prominent tech firm MicroStrategy. As per the company’s announcement today, it has purchased yet another $15 million worth of BTC – officially cementing the crypto as its central treasury reserve. The newly added 253 BTCs now puts MicroStrategy’s total BTC fortune to a staggering 5.4 billion, living up to its previous promise to commit even more money towards the surging crypto.
Immediately following the announcement, the firm’s stock, MSTR, jumped by about 3.33%, thus, reinforcing BTIG’s positive remarks from last week, wherein states that MicroStrategy is worth investing in because of its bullish outlook on cryptos. In fact, several analysts from the global monetary services company believed that BTC’s average market price could go as high as $95,000 by next year, primarily due to MicroStrategy’s pioneering stance on cryptos. One analyst of BTIG went as far as stating that stock investors should now consider investing in BTC or get left behind.
MicroStrategy’s CEO, Michael Saylor, noted on his Twitter account that the firm had purchased the batch of coins at an average price of $59,339 each, including additional expenses and fees. At present, MicroStrategy now holds an absurd 91,579 BTCs, which it was able to purchase at an average value of $24,311 per coin. This means that the company’s investment in BTC has now garnered them an investment profit of about 144%.