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  • Business - Market Data
  • Updated: Apr 05, 2021

Bitcoin Surges As Microstrategy Reveals Fresh Purchase

Bitcoin Surges As Microstrategy Reveals Fresh Purchase

Famous business intelligence firm Microstrategy announced on Monday that it had acquired an additional 253 bitcoins, worth $15 million to increase its holdings to 91,579.

According to CEO Michael Saylor, the NASDAQ-listed company, which is also known for making bitcoin its main reserve has now spent $2.23 billion on the crypto asset with an average purchase price of $24,311.

READ ALSO: Ether Continues Winning Streak To New All-Time High

Bitcoin quickly pared its losses from yesterday as the cryptocurrency surged as high as $59,243 at 5:00 pm WAT before easing to trade slightly below $59,000 as of report time.

At spot rates of over $59k, MicroStrategy has netted over $3 billion in profits, up 240 percent since H2 2020 when the company began ramping up BTC purchase.

 

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