Business intelligence company MicroStrategy has purchased an additional 5,050 Bitcoin worth nearly $243 million in cash.
MicroStrategy now holds a total of 114,042 Bitcoin, acquired for $3.16 billion at an average price of $27,713 BTC.
This latest purchase was made at an average price of $48,099 per BTC.
As of writing, BTC/USD is trading around $43,500 in a volatile start to the week. September started on a positive note as it moved up from about $47k to nearly $53k last Tuesday, the day El Salvador officially adopted Bitcoin as legal tender alongside the US dollar.
But the very same day, BTC/USD fell to about $42,850. And since then, the market has been oscillating between $43k and $47k. As of writing, BTC is trading around $44,000.
In line with this, Ethereum (ETH) slid down to nearly $3,100 before making its way to $3,200 and the total crypto market cap is around $2 trillion.
ETH -6.78%
Ethereum / USD ETHUSD
$ 3,192.06 -$216.42 -6.78%
Volume 21.77 b Change -$216.42 Open $3,192.06 Circulating 117.51 m Market Cap 375.09 b
29 min Bitcoin Drops to $43,500 as MicroStrategy Buys Another 5,050 BTC at Average Price of Over $48k 1 h Two Public Pension Funds Are Investing $50M in A Fund that Provides Exposure to Crypto and Their Derivatives 2 h Southeast Asia’s Largest Bank (DBS) Sees Increasing Crypto Demand from Corporate Investors and Wealthy Family Funds
It is possible the losses recorded by the crypto market were due to a fake announcement regarding that retail giant Walmart (NYSE:WMT) accepting the cryptocurrency Litecoin (LTC) for payments from shoppers. A Walmart spokesperson has confirmed that the press release is not authentic.
LTC/USD jumped 35% on the news to as high as $238 only to tumble down to $180.
LTC -3.49%
Litecoin / USD LTCUSD
$ 177.67 -$6.20 -3.49%
Volume 7.03 b Change -$6.20 Open $177.67 Circulating 66.75 m Market Cap 11.86 b
29 min Bitcoin Drops to $43,500 as MicroStrategy Buys Another 5,050 BTC at Average Price of Over $48k 4 d Robinhood (NASDAQ:HOOD) Trading App Rolls Out “Dollar Cost Averaging” for Crypto Investments 1 w SBI (NS:SBI) Holdings to Launch Japan’s First Crypto Fund Before 2021 is Over
MSTR share prices dropped in tandem to about $600, on a decline since early August and down 54% from the all-time high of $1,315 hit in early February.
Bitcoin BTC
$ 44,133.10
-0.96%
-3.84%
-14.60%
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