MicroStrategy Buys More Bitcoin, $BTC Now Back Above $48,000

MicroStrategy Buys More Bitcoin, $BTC Now Back Above $48,000

On Monday (March 1), Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR) lent some much-needed confidence to the crypto market by announcing the purchase of more Bitcoin for its corporate treasury.

Here is how Michael J. Saylor, Co-Founder, Chairman, and CEO of MicroStrategy, announced that his company had “purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per bitcoin.”

This brings the total number of bitcoins that MicroStrategy is now HODLing to 90,859.

According to data by TradingView, minutes later (at 13:16 UTC) on crypto exchange Bitstamp, the Bitcoin price reached $48,521, which is the current intraday high.

Featured Image by “SnapLaunch” via

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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