MicroStrategy Adds More Bitcoin to Its Reserve: What Does It Mean for the Market?

Michael Saylor, the founder of Strategy (formerly known as MicroStrategy), continues to bet heavily on Bitcoin. In its latest acquisition, the company added 6,556 BTC to its already impressive reserve, bringing the total to 538,200 BTC. The purchase was made for about $556 million at an average price of $84,785 per Bitcoin.

The interesting thing is that right now, Bitcoin has surpassed the $90,000 barrier, something that hadn't happened since early March of this year. This price surge comes hand in hand with Saylor's constant strategy of treating Bitcoin as a store of value. Since 2020, Strategy has aggressively invested in the cryptocurrency, and its efforts continue to pay off.#SaylorBTCPurchase