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Microstrategy and repurchase of 500 million dollars of Bitcoin!

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Company Microstrategy whose name is linked with heavy purchases of Bitcoin, recently and in his recent disclosure to the United States Stock Exchange, he has announced that he intends to buy heavy Bitcoins again at low prices.

Microstrategy was founded by Michael Siler and has bought 129,699 Bitcoins for a total price of $3.977 billion in recent years.

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The company is still trying to buy more bitcoins by selling its shares, regardless of market conditions and uncertainties in the cryptocurrency world.

Recently, this news was announced in a tweet assigned to one of the senior managers of this company. The tweet states that MicroStrategy intends to use the net proceeds from the sale of Class A common stock to purchase bitcoins for general corporate purposes.

Buying bitcoin at low prices is very necessary for the survival of this company; Because Microstrategy’s Bitcoin reserve has decreased in price by nearly 2.8 billion dollars due to the currency reduction of this cryptocurrency and has brought a loss of 1 billion dollars for this company.

Bitcoin

These days, the price of Bitcoin is fluctuating between 19 and 21 thousand dollars, and if it breaks the resistances in front of it, it is expected to approach the prices of 25 and 30 thousand dollars.

Bitcoin was able to grow to a strange price of 60 thousand dollars last year and in the right conditions of the digital currency market, but with the beginning of the bear market, its price decreased like most of the digital currencies in the market and it has been between 19 and 20 thousand for some time. The dollar is fluctuating.

What is your analysis of the digital currency market due to the repurchase of Bitcoin by large international companies at low prices? Can Bitcoin soon approach its former prices and break records?

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Adib

Adib Zahedi is the CEO and Founder of mazhd.com. He has nearly a decade of experience in IT, including two years spent working on a Youtube Chennal. He is also an author and writes articles for mazhd.com. Has articles include tutorials and covers everything from Windows PCs to smartphone's software.

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