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Investing.com – Cryptos have been on a downtrend for months, but it seems that doesn’t scare some people. Large investors seem to be rubbing their hands instead at the idea of being able to buy at lower prices.
In this sense, the world’s largest holding company now owns more than 125,000 bitcoins, purchased at an average price of $30,200 each.
A buying opportunity for bitcoin?
MicroStrategy bought an additional 660 bitcoins for $25 million as the price fell below $40,000 per coin. The company now holds over 125,000 BTC in its treasury, purchased for a total of $3.78 billion. This is the first announced purchase of the year for the world’s largest bitcoin-holding company.
In contrast, second-place Tesla (NASDAQ:) hasn’t added bitcoin since its first purchase about a year ago. The electric carmaker even sold 10% of its reserve in the months that followed to test its liquidity.
A continuous accumulation of
MicroStrategy has been steadily accumulating bitcoins since 2020 under the leadership of its CEO Michael Saylor who sees it as a store of value. The company’s strategy has placed it at the top of the list of companies that hold bitcoins. Mr. Saylor’s company has never sold any of his BTCs, and the CEO has guaranteed that he never will.
Mr. Saylor’s accumulation strategy is not limited to MicroStrategy. Indeed, the CEO said in December that he personally owns more than 17,000 bitcoins, worth around $680 million at today’s price.
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