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MicroStrategy’s CEO reveals the company’s surprising Bitcoin buying strategy

From cointelegraph.com

Mainstream business intelligence behemoth MicroStrategy has made a number of headlines in recent days for its initial $250 million Bitcoin (BTC) investment. The company later poured a subsequent $175 million into the asset — a lengthy endeavor totaling almost 100 hours of work. "To acquire 16,796 BTC (disclosed 9/14/20), we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each 3 seconds," MicroStrategy CEO Michael Saylor said in a Sept. 18 tweet. Approximately "$39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward ... (full story)

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  • Category: Fundamental Analysis