Bitcoin price continues to move below the $50,000 mark, showing a general downturn in the crypto market at the moment. At 7:40 a.m. ET (Dec. 11), Bitcoin was up 0.01%, hovering at $48,210.07.
MicroStrategy, the bitcoin-loving giant, seems to be taking further advantage of the current weakness and has acquired an additional 1,434 BTC, equivalent to $82.4 million.
At last count, the company held a total of 122,478 BTC on its balance sheet. That puts the total value of all Bitcoins acquired by Chief Executive Officer (CEO) Michael Saylor at $3.66 billion, giving an average purchase price of around $29,861 per BTC.
The value of Bitcoins held by the company now exceeds $6 billion, which means that the value has almost doubled since the purchase of the Bitcoins.
The Spot Market is Closed
Saturday, December 11, 2021