MicroStrategy will buy $ 414.4 million worth of BTC, with total BTC holding over $ 3.5 billion.

Michael Saylor, CEO of data analytics firm MicroStrategy, announced on Twitter and in company data on Monday that the company had bought 7,002 Bitcoins (BTC), valued at around $ 414.4 million, from an average value of $ 59,187 per BTC. MicroStrategy sold 571,001 joint ventures from Oct. 1 to Nov. 29 at $ 732.16 per share, raising a total of $ 414.4 million in cash.

MicroStrategy bought 7,002 BTC for $ 414.4 million in cash at an average of $ 59,187 per BTC. As of November 39 of this year, we have received 121,044 BTC for $ 3.57 billion, with a value average of $ 29,534 per BTC. "

- Michael Sailor (@saylor) 29 novembre 2021

In August 2020, MicroStrategy announced that it would use BTC as a financial asset, and that these digital perks are “profitable stores” and profitable in the long run, investing more than holding cash. The company also noted that the government's unprecedented move to oppose the new economy, which has been linked to a recession, has led to higher and lower income potential from fiat money. Since then, MicroStrategy has been defending BTC almost every month.

Usually, the average trader goes down when the price of Bitcoin goes down and goes up when the price goes up. However, this is not the case with MicroStrategy. MicroStrategy chairman and chief financial officer Phong Le said the bitcoin insurance company was classified as "an unreliable asset under financial rules," according to financial statements at a meeting announced last month. This means that if at any point after receiving a fair price or market value of Bitcoin below its book value, the business should be aware of the cost of damage. These deductions can be used to pay off corporate tax debt.