Bitcoin Gains On As MicroStrategy Gives Indication of Big Purchase

Bitcoin, the largest cryptocurrency by market value, had a rise on Thursday. American company MicroStrategy, which has a large holding of Bitcoin, has informed about its plans to issue shares. This has indicated MicroStrategy’s buying of Bitcoin again.

After reaching more than $99,870, the price of Bitcoin was trading at around $98,124 at the time of writing this report. The second largest cryptocurrency Ether was down by more than 1.50 percent and was priced at around $3,439. software maker microstrategy The announcement of buying Bitcoin by issuing more shares next year has given rise to this most popular cryptocurrency. The price of Bitcoin has increased by more than 130 percent this year. Recently it had created a new high level of more than $1,08,800.

However, after this there has been a significant decline in Bitcoin. The interest of institutional investors in this segment is also increasing. Recently, MicroStrategy had purchased a large number of Bitcoins for the seventh consecutive week. The company had said that it had purchased 5,262 bitcoins last week. For this, a price of approximately $ 1,06,612 per bitcoin has been given. MicroStrategy had 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 480 percent this year. However, questions are also being raised on the strategy of buying Bitcoin by selling shares of this company. During the presidential election campaign in America, Donald Trump had hinted at creating a reserve of Bitcoin. However, the Federal Reserve says it does not intend to get involved in the next government’s plan to create large stocks of Bitcoin.