Cryptocurrency markets are very active today with good news coming in succession. However, BTC price has started to fall. Bitcoin (BTC) briefly dropped below $66,000 despite MicroStrategy’s hundreds of millions of dollars in purchases.
Latest News from the Cryptocurrency Whale
MicroStrategy, one of the largest cryptocurrency whales, announced that it purchased roughly 12,000 BTC between April 27 and June 19. The second big news from Saylor in a short time also did not push the BTC price up. Historically, this company’s massive BTC purchases generally cause a price drop. According to historical data, Saylor’s company makes accurate detections of the bottom and moves for new purchases.
Saylor recently wrote on his social media account:
“MicroStrategy bought BTC at ~$65,883 per bitcoin. These purchases, fueled by convertible notes and excess cash, amount to around $786 million. By purchasing 11,931 more BTC, we now hold 226,331 BTC as of today. To date, our company has purchased approximately 226,331 BTC for $8.33 billion at an average price of $36,798 per bitcoin.”
