MicroStrategy Buys More Bitcoin, $BTC Now Back Above $48,000

On Monday (March 1), Nasdaq-listed business intelligence company MicroStrategy Inc. (NASDAQ: MSTR) lent some much-needed confidence to the crypto market by announcing the purchase of more Bitcoin for its corporate treasury.

Here is how Michael J. Saylor, Co-Founder, Chairman, and CEO of MicroStrategy, announced that his company had “purchased an additional ~328 bitcoins for ~$15.0 million in cash at an average price of ~$45,710 per bitcoin.”

This brings the total number of bitcoins that MicroStrategy is now HODLing to 90,859.

According to data by TradingView, minutes later (at 13:16 UTC) on crypto exchange Bitstamp, the Bitcoin price reached $48,521, which is the current intraday high.

bitcoin
Bitcoin (BTC) $ 68,364.32 0.92%
ethereum
Ethereum (ETH) $ 2,425.51 1.75%
tether
Tether (USDT) $ 0.999549 0.05%
bnb
BNB (BNB) $ 557.46 0.39%
solana
Solana (SOL) $ 159.92 1.58%
usd-coin
USDC (USDC) $ 1.00 0.06%
xrp
XRP (XRP) $ 0.507590 0.46%
dogecoin
Dogecoin (DOGE) $ 0.162673 7.90%
staked-ether
Lido Staked Ether (STETH) $ 2,424.44 1.69%
tron
TRON (TRX) $ 0.162664 1.58%
   
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