Bitcoin Gains on ETH as 17,000 Bought

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Summary

Some 17,000 bitcoin has been bought this Monday at an average price of $10,400 per coin. In total, some $175 million was bought in this block by the publicly traded company, MicroStrategy. Now however the chairman is saying they have bought $425 million already, with it unclear where this other $225 million came from. That’s probably primarily because of this cash injection, with MicroStrategy seemingly having more in store for bitcoin. Bitcoin is digital gold – harder, stronger, faster, and smarter than any money that has preceded it.

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Some 17,000 bitcoin has been bought this Monday at an average price of $10,400 per coin.

In total, some $175 million was bought in this block by the publicly traded company, MicroStrategy. Michael Saylor, its founder and chairman, said:

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million.

To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.”

Last month they announced they were to buy $250 million worth of bitcoin and $250 million was to be returned to investors with this company having some $1 billion in assets and half a billion of revenue a year.

Now however the chairman is saying they have bought $425 million already, with it unclear where this other $225 million came from.

They...

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