MicroStrategy, led by Michael Saylor, has resumed its regular Bitcoin purchases after pausing for a week.
The company revealed that it bought 4,871 BTC last week at an average price of 67,718 dollars per coin, spending approximately 330 million dollars.
With this latest addition, the firm’s total Bitcoin holdings have reached 766,970 BTC. These were acquired at a total cost of about 58 billion dollars, with an average purchase price of 75,644 dollars per Bitcoin. Despite the recent rise in Bitcoin’s price toward 70,000 dollars, the company’s holdings are still below their acquisition cost, currently valued at around 53.3 billion dollars.
Shares of MicroStrategy, traded under MSTR on the NASDAQ, increased by nearly 4 percent in pre market trading. However, the stock has declined significantly this year, falling from close to 160 dollars to about 124.54 dollars.
Meanwhile, Saylor has once again clashed online with Peter Schiff over Bitcoin’s long term performance. Schiff argued that Bitcoin has gained only 12 percent over the past five years when compared with assets like gold, silver, and stocks. In response, Saylor highlighted a different timeframe, pointing to stronger annualized returns since August 2020, when MicroStrategy began its aggressive Bitcoin accumulation strategy.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
