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This Company Is Buying More Bitcoin in This Crypto Crash -- Should You Do the Same?

TheMotleyFool

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This Company Is Buying More Bitcoin in This Crypto Crash -- Should You Do the Same?: https://g.foolcdn.com/editorial/images/688231/cryptocurrency-confusion.jpg

Business analytics company MicroStrategy (NASDAQ: MSTR) has converted nearly all of its cash reserves into Bitcoin (CRYPTO: BTC) tokens. You might expect CEO Michael Saylor to be less enthusiastic about this idea, as Bitcoin prices fell nearly 60% in the first half of 2022, but the company is still buying more digital coins.

Is MicroStrategy setting a bad example here -- or should you follow suit?

According to official filings to the Securities and Exchange Commission (SEC), MicroStrategy bought another 480 Bitcoins between May 3 and June 28. The average price per coin worked out to $20,817, and the total investment added up to $9.99 million.

Source Fool.com

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