Micro Strategy with increased bitcoin purchases, stock price cuts in half a month

Bitcoin is leading the virtual asset market [Photo: Shutterstock]
[Photo: Shutterstock]

[Digital Today Reporter Hwang Chi-gyu] The share price of Micro Strategy, a business intelligence (BI) software company that has attracted attention by actively purchasing bitcoin as a NASDAQ-listed company, has fallen to half within a month or so.

MicroStrategy shares fell sharply after peaking in early February, according to The Block. On February 9, the stock price reached $1272, but closed at $645, down 50% as of the 4th (local time).

Earlier this month, MicroStrategy announced that it had purchased more than 328 additional Bitcoins for $15 million in cash. This purchase was made when the Bitcoin price was $45,710 each. Earlier on February 25th, MicroStrategy purchased 1 billion dollar worth of Bitcoin.

MicroStrategy has been actively investing in bitcoin since buying bitcoin for the first time in August last year. Currently, MicroStrategy holds 9,859 Bitcoins.

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.

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