MicroStrategy buys Bitcoin dip, holdings surpass 450K BTC
Summary
MicroStrategy's Bitcoin holdings have surpassed 450,000 BTC, acquired for $28.2 billion at an average price of $62,691. The company recently invested $243 million to purchase Bitcoin at an average price of $95,972 during a market correction when Bitcoin traded below $100,000. This acquisition contributed to a decrease in Bitcoin exchange reserves, reaching a near seven-year low. The reduced supply on exchanges may indicate a potential price rally due to a "supply shock," where strong demand meets limited availability, potentially driving prices higher.
