MicroStrategy buys another $10 million worth of Bitcoin at $20k
These guys may be the only institutional buyer left
Putting their money where their mouth is, MicroStrategy continues to buy the dip on bitcoin.
After not purchasing any bitcoin for several weeks and months, they just announced that they bought roughly $10 million more at a price a shade above $20k per coin.
Check it out:
MicroStrategy is now significantly underwater on their bitcoin purchases and I would guess their largest purchases are behind them.
They, and the rest of us, need the macro environment of rate hikes and central bank tightening to end before we see bitcoin start to do well again.
At least that seems to be the trend as of late...
Ironically I could see this ending around the same time the next halving will be kicking into gear.