MicroStrategy buys 3,907 BTC for $177 million

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THE new buy it cost approximately US$ 177 million for the financial intelligence company's coffers. It represented a cost of US$ 45,294 per Bitcoin, including transaction costs.

In this way, MicroStrategy claims to have invested a total of US$ 2.918 billion in the cryptocurrency, which is equivalent to an average of US$ 26,769 per BTC.

MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTRhttps://t.co/8jUlJImJbO

—Michael Saylor (@michael_saylor) August 24, 2021

MicroStrategy continues to bet on Bitcoin

The new purchase of Bitcoin by MicroStrategy once again reaffirms the vision of its CEO, Michael Saylor, what is optimistic about the future of cryptocurrencies, especially Bitcoin.

MicroStrategy's investments started in 2020. In December of that year, Saylor revealed that his company had purchased 2,574 BTC for US$ 50 million, an average of US$ 19,427 for each BTC.

MicroStrategy's latest BTC purchase report was released at the end of June.

At the time, she announced the purchase of 13,005 BTC, with which the company accumulated a total of 105,085 BTC.

Positive days for Bitcoin

MicroStrategy's announcement came a day after Bitcoin hit one more time the mark of US$ 50,000.

This was the first time Bitcoin had touched the US$ 50,000 level in over three months. The last time this happened was in May, almost a month after bitcoin registered its current all-time high.

Since then, Bitcoin has seen a drop of 3.31% in the last 24 hours. The cryptocurrency is currently trading at US$ 48,633.11, according to data from CoinMarketCap.

On the other hand, technical indicators show weaknesses. The MACD and RSI both created bearish divergences, with the former giving a bearish reversal signal.

In turn, the Stochastic Oscillator is also very close to making a bearish crossover.

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