MicroStrategy invested $500 million in Bitcoin, increasing its value.
The bitcoin price has been rising for the past two days. It rose from $21,000 to $21,500 – an increase of about two hundred dollars. Just before that, it was announced that MicroStrategy was planning to invest $500 million in bitcoins.
The bitcoin price had a good weekend
The price of bitcoin recently dipped below $21,500. However, this happened last week when the price reached $18,900. Since then, the price has risen again to 21,500 euros. Some people believe that this price change is cause for panic; however, others believe it is a good opportunity to buy bitcoins.
On 9 September, MicroStrategy announced that they wanted to sell shares to buy more bitcoin. That same day, the wave began. The technology company closed a $500 million deal with Cowen and Company and BTIG investment funds.
MicroStrategy wants to encourage more people to use bitcoin.
MicroStrategy stated in June that they owned nearly $4 billion in bitcoins. In an SEC filing, the company stated that they planned to raise $500 million to buy even more bitcoins.