MicroStrategy invests billions of dollars in Bitcoin $63,421 continues to grow its reserves by borrowing. We mentioned that the last private bond issue exceeded $800 million. The company issues bonds and pays them to its investors with long-term interest. It has been using the cash it has obtained to buy Bitcoin and cover operating expenses for years.
Why Is Bitcoin Falling?
Bitcoin price regarding the acquisition announced at the time of writing. The company purchased 7240 shares for $458 million between September 13-19 BTC bought. The same thing happened with their previous announcements and the BTC price dropped after the purchase was announced. However, the previous declines were short-lived and the price is expected to recover again.
The price, which quickly fell from the $ 63,400 level to the $ 62,800 band, fell to yesterday’s daily closing zone. It is hoped that $ 62,700 will be protected as support here. With its latest purchase, the company has 252,220 BTC worth $ 9.9 billion, costing $ 39,266 as of today.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
