MicroStrategy said on Monday that it had purchased 51,780 bitcoins at an average price of $88,627 per bitcoin. For this the company has spent about 4.6 billion dollars. Earlier this month also the company had made a big purchase in Bitcoin. It holds a strong position in the enterprise software segment. The company’s total holding of Bitcoin has increased to approximately 3,31,200 Bitcoin. The company had told that it is raising funds by selling shares.
Earlier this month, MicroStrategy spent more than $2 billion buying approximately 27,200 bitcoins. The company’s chairman, Michael Saylor, had decided to invest in Bitcoin as a hedge against inflation. Initially this company used to buy bitcoins in exchange for cash. Since then, MicroStrategy has been using the proceeds from the sale of shares and convertible debt to buy Bitcoin. The shares of this American company have increased by more than 2,000 percent in the last four years. The price of Bitcoin has increased by almost 700 percent during this period.
Trump started supporting digital assets after re-entering the electoral fray. He also promised to make America the crypto capital of the world. Trump had also hinted at not making strict regulations for this segment and creating a reserve of Bitcoin. There are a large number of people investing in the crypto market in America. These investors are also expected to contribute to Trump’s victory. A new government led by Trump will take charge in America early next year. The agenda of this government may also include making laws for cryptocurrencies. However, there is no possibility of imposing strict regulations for this segment.
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