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Bitcoin Stays Below $26,500 Despite MicroStrategy Adding 5,445 BTC To Its Books

Twitter icon  •  Published il y a 7 mois  •  Hassan Maishera

Bitcoin continues to trade below the $26,500 level despite MicroStrategy purchasing more than 5,000 bitcoins on Monday.

TL;DR

  • BTC continues to trade below the $26,500 region as bears refuse to relinquish control.

  • Michael Saylor’s MicroStrategy purchased more than 5,000 bitcoins and now holds over $4 billion worth of BTC.

MicroStrategy Now Holds $4 Billion Worth Of Bitcoins

The world’s leading cryptocurrency by market cap has been underperforming since the start of the week. It dropped below the $27k level over the weekend as the bears took control of the market.

At press time, Bitcoin is still trading at the $26,300 level despite MicroStrategy’s latest foray into the market. Michael Saylor announced on Monday that MicroStrategy purchased 5,445 BTC for $147.3 million at an average price of $27,053 per bitcoin.

This latest acquisition means that MicroStrategy now holds 158,245 BTC acquired for $4.68 billion at an average price of $29,582 per bitcoin. Thus, making MicroStrategy one of the leading Bitcoin holders in the world.

The broader cryptocurrency market is also underperforming. The total cryptocurrency market cap now stands at $1.05 trillion, up by less than 1% in the last 24 hours. 

LINK, the native coin of the Chainlink ecosystem, continues to lead the charge amongst the top 20 cryptocurrencies by market cap. It is up by more than 4% in the last 24 hours following Chainlink’s partnership with Coin98.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.