MicroStrategy Expands Bitcoin Portfolio with the Acquisition of 5,050 BTC

MicroStrategy, the US-based business intelligence firm, recently announced that the company has acquired 5,050 Bitcoin for approximately $243 million in cash.

According to an official announcement by Michael Saylor, the CEO of MicroStrategy, the company now has a total of 114,042 Bitcoin. In August 2021, MicroStrategy acquired 3,907 BTC for $177 million in cash.

Since the start of 2021, MicroStrategy has expanded its Bitcoin portfolio substantially. The Nasdaq-listed company is one of the largest institutional holders of the world’s largest cryptocurrency. The stock price of MicroStrategy jumped by nearly 5% after the recent Bitcoin announcement.

“MicroStrategy has purchased an additional 5,050 bitcoins for $242.9 million in cash at an average price of $48,099 per BTC. As of 9/12/21, we are holding 114,042 bitcoins acquired for $3.16 billion at an average price of $27,713 per bitcoin,” Saylor said in a Tweet.

Despite the price Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term, institutional adoption of Bitcoin and other cryptocurrency assets has increased significantly since the start of 2021. The Asian firm, Meitu and US-based Tesla acquired BTC in large amounts during the first half of 2021. El Salvador, the Central American nation, recently announced that the country is planning to exempt foreign investors from taxes on BTC profits. Nayib Bukele, the President of El Salvador, revealed last week that the country is now holding 550 BTC.

Bitcoin’s Weekly Price Action

BTC saw extreme volatility last week after its price dropped by nearly $10,000 within 12 hours on 7 September. However, its on-chain activity remained positive as long-term Bitcoin holders increased accumulation.

“The Bitcoin market experienced a high volatility sell-off early in the week, with prices initially breaking up to a new local high of $52,849, before settling down to a low of $44,196. Meanwhile, in spot and on-chain markets, the historically significant trend of investor accumulation and long-term holding remains well and truly intact. Despite a 50%+ sell-off experienced in May, a strong rally from the $29k lows, and now another sharp sell-off this week, HODLers appear unphased,” the crypto Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term platform, Glassnode mentioned.