Despite being one of the first companies to buy Bitcoin institutionally, unlike El Salvador’s president Nayib Bukele, Microstrategy has always had an adverse effect on the market. Every time Bitcoin is bought, the market pulls down.
MicroStrategy buys Bitcoin again
The firm announced yesterday that it purchased a total of 660 Bitcoins in December and spent $25 million. Thus, he reached a total of 125051 Bitcoin assets and had an accumulation of 3.78 billion dollars. Average BTC purchase is around $30200.
Bitcoin, which pushed the $ 39500 limit yesterday, was pulled to the level of 38 thousand dollars with this news. Microstrategy is again thought to have a negative impact on the market. Of course, this is an urban legend and it is unlikely that a downturn will occur on an already purchased asset. However, it is thought that the firm may have affected the market with the BTC assets it has exchanged.
On the other hand, MicroStrategy had to exchange Bitcoin at a loss in the last quarter of last year and made a loss of 146.6 million dollars. In addition, operating expenses were $248 million, resulting in a loss of $390 million. In the last six months, BTC assets, which were exchanged at a loss, amounted to 900 million dollars.
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