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MicroStrategy Buys Additional $10M Worth of Bitcoin

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Not minding the losses accrued thus far, MicroStrategy Incorporated has continued to buy the dip, the latest of which is 480 units of Bitcoin (BTC) worth approximately $10 million.

According to a Form 8-K filinglodged with the United States Securities and Exchange Commission (SEC), MicroStrategy said it “acquired approximately 480 bitcoins for approximately $10.0 million in cash, at an average price of approximately $20,817 per bitcoin, inclusive of fees and expenses.” The company, led by Bitcoin bull, Michael Saylor said as “of June 28, 2022, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 129,699 bitcoins, which were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,664 per bitcoin, inclusive of fees and expenses.” MicroStrategy is not a stranger to betting on Bitcoin especially when prices are generally low.

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