MicroStrategy company acquired BTC in the amount of $10 million
Despite the fall of the BTC exchange rate below $ 20,000, MicroStrategy announced another purchase of bitcoin, this time allocating $ 10 million
According to the company's CEO Michael Saylor, 480 BTC was purchased at an average rate of $20,817. At the moment, MicroStrategy has spent more than $3.98 billion on bitcoin purchases and has 129,699 BTC at its disposal. Due to the fall in the asset's exchange rate, investment losses amount to $1.3 billion.
Last month, MicroStrategy technical director Fong Lee announced a possible margin call if the bitcoin exchange rate collapses too much. In March, the firm took out a loan for the purchase of BTC in the amount of $ 205 million.
Earlier, Saylor said that the firm predicted volatility in the market and structured its balance sheet so as to be able to hold bitcoin even under unfavorable conditions, and in the event of a continuation of the downward trend, MicroStrategy is ready to provide other collateral. Thus, even with the onset of crypto-winter, Saylor is firmly convinced of the growth of bitcoin in the long term.
MicroStrategy started buying bitcoin back in 2020, initially allocating $250 million. Saylor has repeatedly called BTC a safe haven asset and digital gold.
But bitcoin strongly correlates with the US stock market, in particular with shares of technology companies, and has lost 57% of capitalization this year.
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