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Home Crypto News Market Microstrategy Shares Have Increased Nearly 3 Times Since Bitcoin Investment

Microstrategy Shares Have Increased Nearly 3 Times Since Bitcoin Investment

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MicroStrategy has almost tripled their company’s shares since first Bitcoin Investment in August 2020. MicroStrategy, the first publicly traded company to buy BTC, has been one of the key figures in the corporate interest in Bitcoin. The company holds Bitcoin, worth more than $ 2 billion.

On August 11, 2020, Nasdaq-listed business company MicroStrategy announced that it was allocating part of the company’s Reserve to Bitcoin. The company’s shares have risen almost 3-fold in the nearly 6 months since then.

MicroStrategy shares climbed From $ 134 to $ 389. MicroStrategy was the first publicly traded company to buy Bitcoin. The firm not only acquired BTC, but made it primary Treasury reserve asset by a board decision. MicroStrategy, whose shares have increased 3 times, holds more than 70 thousand Bitcoins.

MicroStrategy continued to gradually increase its BTC reserve after its initial investment in August 2020. MicroStrategy holds 70,470 Bitcoins. The value of these Bitcoins is about $ 2 billion when the BTC price is approx, 29 thousand USD. Microstrategy announced that more than 70 thousand Bitcoins were bought at an average price of $ 15,964.

In months of August, September and December MicroStrategy made four BTC investments. Finally, on December 21, they bought 29 thousand BTC with the sale of 650 million dollars of convertible bonds.

Read Also:

MicroStrategy Buys the Dip With Another $ 650 Million Worth Of Bitcoin

MicroStrategy Issued $650 Million In Bonds To Buy BTC

MicroStrategy Is Planning To Buy Another 400 Million Worth Of Bitcoin

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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