MicroStrategy continues to bet on Bitcoin with new $15 million purchase

CRYPTONAIRE LYWEEK

CRYPTO investment journal

MicroStrategy continues to bet on Bitcoin with new $15 million purchase

The business intelligence firm shows no sign of cooling on Bitcoin with yet another purchase, signalling confidence in the world’s largest cryptocurrency by market cap.

There’s no let-up in MicroStrategy’s Bitcoin buying spree as CEO Michael Saylor announced yet another $15 million purchase today. Saylor tweeted that the firm had acquired an additional 253 BTC at an average purchase price of $59,339 per token.

This takes MicroStrategy’s aggregate holdings to 91,579 Bitcoin, at the cost of $2.226 billion, with an average purchase price of $24,311.

At the current Bitcoin price, the market value of total holdings comes to $5.376 billion, making an unrealized profit of $3.15 billion or a 140% return.

The market trades sideways over the Easter weekend

The world’s largest cryptocurrency by market cap has been trading somewhat flat over the Easter weekend period. With its price ranging from between $57,000 and $59,000.

Large caps have mostly followed suit, except for XRP, which boosts double-digit gains today as bulls continue to grow in confidence over Ripple’s prospects in the SEC lawsuit.

Early hours UTC saw Bitcoin’s down-trending price bounce at $56,900, leading to a renewed hope of revisiting the $61,000 all-time high once more. At the time of writing, the daily chart shows a hammer pattern forming, signaling a potential bullish reversal.

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