Saylor's MicroStrategy Bought Another $10 Million In Bitcoin As Crypto Markets Lost $900 Billion In Value
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Data analytics firm MicroStrategy disclosed it purchased 480 bitcoins for $10 million in cash, or $20,817 per coin, between May 3 and Tuesday. The data analytics firm now holds 129,699 bitcoins, purchased for nearly $4 billion, or an average price of $30,664 per coin. Bitcoin's latest selloff prompted speculation earlier this month that the firm would be forced to liquidate some of its bitcoin holdings to cover losses. Shares of the firm have plunged 79% since bitcoin's high in November, and fell another 6% Wednesday morning to $175. Bitcoin has dropped nearly 32% in the past month, but it's still up a staggering 115% over the past two years, still up 115%. Source