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Tue, Nov 17, 2020 3:54 PM by Coinfomania

MicroStrategy’s Bitcoin Bet Now Worth $656 Million as FOMO Kicks Harder

Business intelligence services company MicroStrategy made a bold bet when it defied public opinion about Bitcoin to invest as much as $425 million in the cryptocurrency between August and September. The company acquired 38,250 BTC at an average price of $11,111.11, a move that many other corporate firms mimicked. With the price of Bitcoin currently above $17,000, MicroStrategy’s BTC haul is now worth more than $656 million or more than 50% of the original sum invested, according to data from bitcointreasures.org. The increase has come in less than three months and could extend way higher if the Bitcoin bull market

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