Bitcoin is the world’s largest cryptocurrency and as the year 2021 comes to an end, its price has noticeably dropped below what many expected. After successfully crossing the $60k price mark, the flagship crypto asset has been seen to drop below the $50k price mark as well.

Bitcoin is currently trading at $47,597 (at the time of writing). Here is a graph by CoinMarketCap that shows the price fluctuations for BTC over the last month.

Even though the price of the crypto king has been dropping more than anticipated, it has not stopped firms such as MicroStrategy to continue investing in it.

As per reports, MicroStrategy, the business intelligence firm, has purchased more Bitcoin, which has resulted in the overall BTC stash of the firm being worth around $6 billion.

This speaks volumes regarding the significance of Bitcoin even though its price has been fluctuating.

If you are also interested in buying BTC then make sure you know how to buy Bitcoin by choosing a secure and suitable exchange.

On the other hand, if you want to trade Bitcoin with up to 100x leverage, you can use Bybit. You can also use this link to claim a bonus on your first deposit.

Details About MicroStrategy’s Investment

While the price drop seen for Bitcoin caused many novice parties to be in doubt, the NASDAQ-listed business firm did the opposite and bought a huge chunk of BTC.

According to reports, MicroStrategy has purchased 1,914 Bitcoin, worth $94.2 million during December when the price of BTC dropped below $50k. The U.S. Securities and Exchange Commission (SEC) has revealed that MicroStrategy purchased the digital asset at an average rate of $49,229 per coin.

As per the SEC filing, the business firm now holds 124,391 BTC, which are worth approximately $5.88 billion. The company also reportedly borrowed $400 million through senior secured notes so it could add BTC to its stash.

MicroStrategy now aims to look for ways how it can generate yield using the flagship crypto asset that is in the company’s holdings.

After investing in Bitcoin for the first time in August, MicroStrategy now has one of the biggest BTC holdings in the crypto space. This also indicates how significant the crypto king is, despite the ups and downs seen in its price.

What Should Crypto Investors and Traders Know?

The fluctuations seen in the price of digital assets such as Bitcoin and Ethereum are not something new as the crypto space is associated with volatility. It also happens that the price corrections cause the prices of the digital assets to surge higher, making it somewhat necessary and beneficial.

However, if you are new to the crypto space and want to invest in a digital asset then the more important aspect you need to focus on is choosing the right platform. Since there are numerous crypto exchanges in the market, you need to be sure that you find the best Bitcoin exchange for buying or trading it.

If you are interested in buying digital assets such as BTC or ETH, you can click on SwissBorg or Kraken (U.S. citizens).

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