This took place as the world’s flagship digital currency began showing signs of revival, recapturing the $60,000 level once again. Several hours prior to that, MicroStrategy made another big Bitcoin offer to its investors.
Over the past few hours, Bitcoin has demonstrated a roughly 2.76% recovery, coming close to the $60,000 price level. Before that, on Monday, BTC faced a substantial decline of 4.55% as it collapsed from $60,358, hitting the $57,600 zone.
On March 14 this year, Bitcoin reached a new all-time high of $73,750. Currently, BTC is changing hands 19.55%, below that level. This was the first time in Bitcoin’s history that it reached a new historic price peak before an expected halving and not after that important event.
Several days ago, Saylor’s company announced the acquisition of another mammoth-sized Bitcoin stash of 18,300 BTC worth $1.1 billion in fiat. After this purchase, MicroStrategy holds a total of 244,800 Bitcoins valued at roughly $14,675,662,080. This amount of crypto constitutes 1.17% of the total Bitcoin supply of 21 million coins. The company now holds more Bitcoin that the majority of spot BTC exchange-traded funds launched in January.
Investors will be able to convert these notes into MSTR shares at a later date and receive interest on them. Basically, MicroStrategy began functioning as a spot Bitcoin ETF before actual funds of this type appeared and began trading on the market.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
