Bitcoin’s drop from $69,000 has made many investors nervous. However, big investors with long-term perspectives once again revealed that they see these declines as opportunities.
First, El Salvador announced that he saw the fall as an opportunity and received 100 BTC.
A news about this came from MicroStrategy. MicroStrategy CEO Michael Saylor announced that they purchased 7002 Bitcoins worth $414.4 million, with an average of $59,187.
As of 29/11/2021, the number of Bitcoins held by the company increased to 121,044 Bitcoins, while the Bitcoin average rose to $29,534. This shows that the company has a close to 100% profit rate on the $3.57 billion Bitcoin purchased. The present value of 121,044 BTC is approximately $7 billion.
The company reported the acquisition to the SEC and published the related document.
Bitcoin continues to be traded at $ 57350 as of our news time.
*Not Investment Advice.