Bitcoin Drops to $43,500 as MicroStrategy Buys Another 5,050 BTC at Average Price of Over $48k
Business intelligence company MicroStrategy has purchased an additional 5,050 Bitcoin worth nearly $243 million in cash.
This latest purchase was made at an average price of $48,099 per BTC.
As of writing, BTC/USD is trading around $43,500 in a volatile start to the week. September started on a positive note as it moved up from about $47k to nearly $53k last Tuesday, the day El Salvador officially adopted Bitcoin as legal tender alongside the US dollar.
But the very same day, BTC/USD fell to about $42,850. And since then, the market has been oscillating between $43k and $47k. As of writing, BTC is trading around $44,000.
In line with this, Ethereum (ETH) slid down to nearly $3,100 before making its way to $3,200 and the total crypto market cap is around $2 trillion. ETH 1.21% Ethereum / USD ETHUSD $ 1,242.38
$15.031.21% Volume 11.22 b Change $15.03 Open $1,242.38 Circulating 121.31 m Market Cap 150.71 b 5 mon Coinbase Predicts Substantial Growth of Newer L1 Chains & Institutionalization of Regulated DeFi 5 mon A Possible Crypto Recovery Moving Into New Year, Risk-on Sentiments Send The Stock Market to Another Record High 5 mon The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022
It is possible the losses recorded by the crypto market were due to a fake announcement regarding that retail giant Walmart accepting the cryptocurrency Litecoin (LTC) for payments from shoppers. A Walmart spokesperson has confirmed that the press release is not authentic.
LTC/USD jumped 35% on the news to as high as $238 only to tumble down to $180. LTC 3.69% Litecoin / USD LTCUSD $ 58.88
$2.173.69% Volume 570.88 m Change $2.17 Open $58.88 Circulating 70.59 m Market Cap 4.16 b 6 mon Bitcoin and Ether Breaks Trend With Outflows While Altcoins Continue to See Inflows 6 mon SBI Holdings to Launch Japan’s First Crypto Fund; Including BTC, ETH, DOT, LINK, LTC, XRP & BCH 6 mon Ledger Announces Integration with FTX and Coinbase, Launching Crypto Life Debit Card
MSTR share prices dropped in tandem to about $600, on a decline since early August and down 54% from the all-time high of $1,315 hit in early February.