MicroStrategy, the largest Bitcoin holder in the world, continues its accumulation trend by allocating an additional $209 million to purchase 2,136 Bitcoins. With this purchase, the company’s reserve has grown to over 446,000 Bitcoins. Michael Saylor, the co-founder of the company, announced that this purchase was made at an average price of $97,834 per Bitcoin. MicroStrategy has spent nearly $28 billion so far to gather its reserves at an average price of $62,428 per Bitcoin. Despite Bitcoin’s price being about 15% below its all-time high last week, the current value of MicroStrategy’s assets is $41.5 billion. However, Peter Schiff, a well-known Bitcoin critic, criticized MicroStrategy again, claiming that smaller purchases at prices higher than the current price cannot sustain Bitcoin’s upward trend.
