Business intelligence firm MicroStrategy has purchased 397 Bitcoins for a total of $46.5 million, according to its Monday announcement.
This marks the company’s biggest Bitcoin buy since Sept. 22.
The company now holds a total of 640,418 BTC, which has been purchased at an average price of $74,057 per coin.
Dwindling purchases
The company’s October purchases were just as underwhelming as the flagship cryptocurrency’s price performance. On Oct. 20, the company announced that it had bought just $18.8 million, which marked one of its smallest Bitcoin purchases to date.
After wowing the crypto crowd with nine-figure purchases, the company’s announcements are now substasntialy less impressive now that capital-raising has become significantly less favorable due to its collapsing premium.
Source: https://u.today/breaking-strategy-announces-biggest-purchase-since-late-september