Bitcoin Getting Interest From Institutional Investors, MicroStrategy Again Purchases Most Valuable Token
Enterprise software maker MicroStrategy has bought a large number of bitcoins for the seventh consecutive week. The company has reported that it has purchased 5,262 bitcoins last week. For this, a price of approximately $ 1,06,612 per bitcoin has been given. At the time of writing this report, the price of this most popular cryptocurrency was down by more than one percent and was trading at more than $94,300. MicroStrategy has sold shares worth about $561 million to buy these bitcoins. This company has a total of 4,44,262 bitcoins. For this, MicroStrategy has spent a total of $ 27.7 billion and the average price per bitcoin is about $ 62,257.
This company also bought about 15,350 bitcoins for about $ 1.5 billion between December 9 and December 15. For this, MicroStrategy paid a price of a little more than $ 1,00,380 per bitcoin. The company’s shares have also benefited from increasing investors in the crypto segment. MicroStrategy’s stock has risen nearly 490 percent this year. However, questions are also being raised on the strategy of this company to buy Bitcoin by selling shares.
Trump had also hinted at creating a reserve of Bitcoin in America. Due to this, the price of this most popular cryptocurrency had increased significantly. However, last week the US Federal Reserve said it did not intend to join the government’s plan to create a large stock of Bitcoin. The head of the Federal Reserve, Jerome Powell, had said, “We are not allowed to buy Bitcoin.” On the legal issues regarding creating a reserve of Bitcoin, he said, “Congress has to consider this but we are not considering changing the law for this in the Federal Reserve.” After this comment by the Federal Reserve, the price of Bitcoin has fallen.
