MicroStrategy Buys $50 Million In Bitcoin Despite Market Turbulence

Strategy (formerly MicroStrategy) continued its Bitcoin accumulation strategy by acquiring 487 BTC for approximately $49.9 million, bringing its total holdings to 641,692 BTC, valued at about $47.54 billion, with an average purchase price of $74,079 per coin. This move reaffirms the company's long-term confidence despite recent market turbulence, including Bitcoin slipping below $100,000 and Strategy's own stock dropping over 27% in the past month. The purchase followed Michael Saylor's bullish prediction of a $150,000 year-end price for Bitcoin. Furthermore, Strategy recently raised $770 million through preferred stock issuance to support further Bitcoin purchases and operations, even as critics question the risk associated with its heavy reliance on Bitcoin's price performance.

(Source：BeInCrypto)