Microstrategy, listed on Nasdaq, purchased 12,222 bitcoins in the second quarter, bringing its total holdings to 226,500 BTC. CEO Phong Le and CFO Andrew Kang expressed optimism about the future of bitcoin and emphasized the company's financial strategy. Despite a net loss, Microstrategy remains committed to its bitcoin strategy.
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Microstrategy Increases Bitcoin Holdings to 226,500 BTC Through Q2 Acquisitions
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Some analysts believe that the German government's massive sale of Bitcoin is the reason for the sluggish cryptocurrency market. In addition, traders are concerned that the stock market may have peaked and that the US fiscal situation is weakening. According to previous monitoring by the on-chain crypto analysis company Arkham, a wallet related to the German government transferred 6,500 BTC to exchanges on June 19th, worth $425 million at the time. The wallet holds nearly 50,000 BTC, reportedly seized from the pirated movie website Movie2k that has been operating since 2013. Data shows that these BTC were sent to Kraken, Bitstamp, and Coinbase. However, MicroStrategy disclosed that it has purchased an additional 11,931 BTC for $786 million, which offsets the selling pressure.
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