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MicroStrategy’s Bitcoin purchase – Can 122 BTCs push it to $70K now?

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Microstrategy acquires Bitcoin amidst falling prices and dropping of metrics such as the asset’s hashprice, which have created a crunch.

On the 30th of April, the company, under the leadership of founder Michael Saylor, disclosed the acquisition of an additional 122 Bitcoins, purchased for approximately $7.8 million.This purchase was part of MicroStrategy’s ongoing commitment to Bitcoin, which has been a central aspect of their business model in recent years.This values their extensive Bitcoin inventory at an average price of $35,180 per unit.

Notably, the decline in Bitcoin’s price appears to be mirrored by a decrease in its hash price, which recently hit all-time lows.

 

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