MicroStrategy acquired nearly 9,000 BTC in the third quarter

MicroStrategy bought back nearly 9,000 BTC in the third quarter of the year from July to October at an average price of $ 46,876, as we read more on today’s Bitcoin news.

Business Intelligence Group Microstrategy acquired nearly 9,000 BTC in the third quarter of the year and now holds approximately $ 7 billion worth of digital assets. MicroStrategy announced the results in its Q3 earnings report and accordingly, the company repurchased 8957 BTC at a price of $ 420 million between July and October, while fixing the average price of each coin at $ 46,876. Currently, the total inventory reaches 114,042 BTC, while the USD value of the leading cryptocurrency is $ 61,000, which means that the company’s shares are worth over $ 7 billion.

The company announced that it has increased its BTC holdings by nearly 200% since the same period in 2020. He claimed the organization will maintain its pro-BTC stance if it purchases more tokens in the future:

“We will continue to examine additional financing options to implement our Bitcoin strategy.”

Buying and holding BTC is one of MicroStrategy’s biggest goals. Buying its BTC by using excess cash flows and debt transactions, holding the major cryptocurrency for long periods of time, and providing the leadership the community needs are the three pillars of the company. Saylor is one of BTC’s key supporters and on a recent appearance reiterated his support, saying that no power can get him to sell his own tokens. As a true proponent of the asset, he turns against Peter Schiff, a prominent critic of the crypto industry, arguing that BTC is an asset with greater potential to make you poorer. In contrast, Saylor said, there is a better chance of getting rich by buying BTC than buying gold.

To prove his point, Saylor added that people can create wealth by investing in the big tech digital networks that everyone needs but no one understands. Seems to be the correct description of BTC, Google, Amazon, and Facebook.

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