MicroStrategy purchases an additional 660 BTC tokens.
They are estimated at $25 million at the time of writing.
This interest in BTC could increase its value in the long run.
Bitcoin is by far one of the largest cryptocurrency tokens by market capitalization, which has dominated the crypto industry since its inception.
This is a sign that many investors are constantly watching due to the fact that it basically shapes the entire industry.
The purchase of MicroStrategy 660 BTC as a catalyst for growth
Michael Saylor, who is the president and CEO of MicroStrategy, officially announced on Twitter on February 1, 2022 that the company had purchased another 660 BTC tokens at an average price of $37,865 per coin.
Additionally, Saylor noted that as of January 31, 2022, the company held 125,051 BTC acquired for $3.78 billion at an average price of $30,200 per Bitcoin.
Moreover, they will not stop buying cryptos whether the prices are high or low.
This increased interest and purchase of the BTC cryptocurrency token will drive investor confidence and may increase the value of the token.
Should you buy Bitcoin (BTC)?
On February 2, 2022, Bitcoin (BTC) had a value of $38,623.
To get a better idea of what all of this really means for the BTC cryptocurrency token, let’s review its high point of value, as well as its performance throughout the previous month.
The peak value of Bitcoin (BTC) was on November 10, 2021, when the token reached a value of $69,044.77. This basically gives us an indication that at its ATH, the token was $30,421.77 or 78% higher in value.
When we review the January performance of the Bitcoin (BTC) cryptocurrency token, we can see that its highest point was on January 2, 2022, when it reached $47,730.23 in value.
Its lowest value point, however, was on January 24, when the token’s value declined to $33,495.91.
This gives us an indication that between January 2, 2022 and January 24, 2022, the value of the BTC cryptocurrency token decreased by $14,234.32 or 30%.
However, from January 24, 2022 to February 2, 2022, the BTC cryptocurrency token also saw an increase of $5,127.09, or 15%.
With that in mind, we can expect BTC to reach $42,000 by the end of February 2022, making it an attractive token to buy.