MicroStrategy, the United States based business intelligence firm, has purchased 1045 Bitcoin over the past couple of weeks, investing a total of $29.3 million. The purchase was made between March 24 and April 4 of this year, at an average price of $28,016 per Bitcoin. The acquisition has put the amount of Bitcoin in MicroStrategy's possession at a total of 140,000 BTC, which was bought at an aggregate purchase price of $4.17 billion. This brings the company's average purchase price per Bitcoin to $29,803.

At the time of writing this article, Bitcoin is trading at $28,217. MicroStrategy is just $1586 away from breaking even with their investment. Any appreciation of the currency could prove to be a lucrative move for the company, who first purchased Bitcoin in 2020 as a hedge against dollar inflation.

Unfortunately, this purchase, as well as previous ones, has not translated to an increase in the company's share prices. The stock has gone down by 4%, trading at $285. This is a significant decrease from the stock's high of just last year, in which it lost 72% due to the market crashes caused by a series of crypto-related bankruptcies.

Although it is too early to predict what the end result of such a large Bitcoin investment will be, the future looks promising for MicroStrategy. If the currency continues to appreciate and no more crypto-related bankruptcies arise, the company could be one of the biggest and most successful Bitcoin investors in the world.



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