2021 has been an extremely critical year for the adoption of cryptocurrencies. In particular, large companies accepting Bitcoin payments or investing in BTC have taken cryptocurrencies to another dimension in terms of institutional adoption.
The most prominent among these companies is undoubtedly the Microstrategy software company. With Microstrategy CEO Michael Saylor being pro-Bitcoin, the company has been in serious business since 2020. bitcoin made the purchase.
The company with more than 124,000 BTC ($4.5 billion at current exchange rates) is the largest corporate BTC whale known as.
Microstrategy has become such a big deal with its heavy BTC purchases that people who find it difficult to invest in Bitcoin in the USA but want to invest in this sector are known to buy Microstrategy shares.
Microstrategy shares, which are directly affected by the BTC price because they hold too much Bitcoin, have experienced an 18 percent pullback today.
How Much Does Microstrategy Cost in Bitcoin?
Microstrategy, which has been buying many pieces of Bitcoin since 2020, It is known that the average price he pays per BTC is $ 30,159.
The BTC price, which fell to $ 36,200 with the latest price drop, will come to the cost price of Microstrategy in case of another 18 percent decrease.
Some experts state that if this happens, Microstrategy will buy heavily to increase the price and will not allow the price to fall below this level.
Currently, the next most important support for bitcoin price is $34,000 – $35,000. If the price drops this far and this support is lost, large institutional investors are expected to step in.