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New Bitcoin Statement from MicroStrategy as Price Crashes - Coin Bulletin
One of the important players in the crypto world, MicroStrategy, did not make any purchases this week despite the drop in the price of Bitcoin (BTC).
Recently, MicroStrategy, which has been purchasing Bitcoin every Monday, announced that it did not make any purchases between March 31 and April 6. Due to the decline in Bitcoin prices, the company did not add any new BTC to its portfolio during this period. The current status of MicroStrategy’s Bitcoin investments indicates that the company’s strategy has not changed and it is maintaining its existing positions.
MicroStrategy has rapidly increased its Bitcoin holdings by making frequent purchases in the past. However, the decision not to make purchases this week may indicate a cautious approach, especially against the fluctuations in Bitcoin prices. The company states that it pursues a long-term investment strategy and continues to view BTC as an asset expected to appreciate in value.
MicroStrategy purchased 80,715 Bitcoins at an average cost of $94,222 in the previous first quarter. However, due to the decline in Bitcoin prices, the company reported a paper loss of $5.91 billion.