MicroStrategy remains bullish on Bitcoin, buying $414.4 million in BTC

  • The largest corporation that publicly holds Bitcoin on its balance sheet has added another $414.4 million in BTC. 
  • Since the blockchain intelligence firm started buying Bitcoin, its stock has noted 350% gains. 
  • As Bitcoin price struggles below $60,000, supporters are stepping away from the public eye. 
  • MicroStrategy is considered one of the biggest Bitcoin whales, the purchase of 7,002 BTC has fueled a bullish narrative for BTC price. 

MicroStrategy is one of the largest corporations that publicly hold Bitcoin. The firm accumulated BTC throughout the month of November, buying Bitcoin dips. 

MicroStrategy is bullish on Bitcoin and continues accumulation 

The data analytics firm headed by Michael Saylor has accumulated Bitcoin between October 1 and November 29. MicroStrategy revealed the addition of 7,002 Bitcoins to the firm’s portfolio for $414.4 million, at an average price of $59,187 per coin. 

The company holds a total of 121,044 Bitcoins acquired at an average price of $29,534 each. Bitcoin price hit closer to a seven-week low over fears of the new Covid-19 strain, dropping below $55,000. 

Since the firm started acquiring Bitcoin, its stock price has appreciated by over 350%. 

The news of the latest investment comes at a time when there is a fear of further price drop. Key supporters of the asset are stepping out of the public eye. 

Jack Dorsey revealed that he is stepping down as CEO of Twitter. CTO Parag Agrawal will replace the BTC proponent Dorsey. 

Twitter has dabbled into Bitcoin tips and payments in 2021; the new CEO would work towards taking the firm’s crypto plans further. 

Over 87% of wallet addresses holding Bitcoin are now profitable, based on data from IntoTheBlock. Nearly 3 million addresses are now profitable, and MicroStrategy’s bullish move has fueled the BTC price rally and triggered a climb. 

FXStreet analysts have evaluated the Bitcoin price trend and believe that the asset has hit bottom and is preparing for a climb to $60,000.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Decentraland price not out of the woods yet, MANA bears prepare for 28% decline

Decentraland price could be headed for a further decline as MANA continues to drop toward the bearish target projected by a pessimistic chart pattern. The token is at risk of a 28% plunge.

More Decentraland news

Ethereum shifts away from ETH 2.0

Ethereum will be moving away from ETH 1.0 and ETH 2.0 as the protocol undergoes significant changes. Core developers on the network are referring to the stages on the blockchain as the “execution layer” and “consensus layer.”

More Ethereum news

Bitcoin finds buyers despite new six-month and 2022 lows, BTC relief rally on deck

Bitcoin price action on Monday was mainly in a full-blown bear attack, with a new 2022 and six-month lows hit. That all changed near the end of the NY equity market session when buyers poured in to rally Bitcoin higher to close in the green for the second day in a row.

More Bitcoin news

Binance Coin bulls may take over as BNB finds support at $350

Binance Coin price has fallen more than 31% since last Monday and over 51% from the all-time high. A deeper push lower is likely if the bulls fail to keep Binance Coin above its final support zone. New 2022 and seven-month lows are coming up.

More Binance Coin news

Bitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Read full analysis