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Why MicroStrategy Has Got Its Bitcoin Accumulation All Wrong as it Lowers Buy Amounts

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cryptonews.com

MicroStrategy has recently made its smallest Bitcoin purchase since it began accumulating Bitcoin on its balance sheet, a move that could signal financial trouble for the enterprise software company.

The company founded by Bitcoin evangelist Michael Saylor revealed in a September 19 SEC filing that it purchased an additional $6 million worth of Bitcoin (301 BTC purchased at an average price of $19,851) using its excess cash.

The purchase brings the total amount of Bitcoin held by MicroStrategy and its subsidiaries to over 130,000 BTC, acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of about $30,639 per token.

The investment is not performing as expected at present, causing observers to raise questions about the soundness of the company's digital strategy.

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