Microstrategy which is the largest corporate holder of BTC has reportedly made a purchase of bitcoins earlier today.
The firm has added 301 units of BTC at an average price below $20,000 and this brings Microstrategy's holdings to 130,000. This was announced by the founder and executive chairman of MicroStrategy,
Michael Saylor on his Twitter page announcing his latest BTC purchase.
The company spent $6 million at an average price of $19,851 per bitcoin to acquire 301 units of bitcoin, bringing its total holdings to 130,000 BTC. This makes the Nasdaq-listed business intelligence software technology company the largest corporate holder of bitcoin.
However, MicroStrategy has faced huge losses, where the firm has spent almost $4 billion to collect BTC at an average price of more than $30,000. With BTC currently trading at around $19,000, this means the firm's position is worth $2.5 billion or a potential loss of $1.5 billion.
However, MicroStrategy has vowed not to sell any of its bitcoin holdings, even in poor market conditions. Interestingly, even after Saylor stepped down as CEO, the company continued to raise more BTC and even planned to raise more money to do so.
BTC price is currently trading at $18,877.32 and Ethereum is trading at $1,343.70.
