The crypto market has not been performing too well but it seems that MicroStrategy is the biggest supporter of #buythedip. The company has purchased $94.3 billion worth of Bitcoin ($BTC), the largest cryptocurrency. It purchased around 1914 BTCs for about $49,229 per coin. Moreover, the company sold a bulk of its shares to make this purchase.
The company holds about 124,391 Bitcoins with an average price of $30,159 as of December 29, 2021. The price of Bitcoin has declined since then. It was priced at $47,407 at 10:11 a.m. ET, down by 1.24%.
According to official data, the company has purchased about 9,000 Bitcoins in the third quarter of the fiscal year. This shows an average of 3,000 BTC acquisition per month. This was a result of CEO Michael Saylor prioritizing Bitcoin investment.
