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MicroStrategy approach to bitcoin won't alter despite market slump, CFO says: WSJ
Even as the cryptocurrency market undergoes hefty drawdowns, MicroStrategy's (NASDAQ:MSTR) approach to buying and hodling bitcoin (BTC-USD) won't change, Andrew Kang, the company's new CFO, told the Wall Street Journal Wednesday.
For some context, the business analytics software provider has acquired a total of 129,218 bitcoins (BTC-USD) at an average price of $30.7K, reflecting an original cost basis of $3.97B, as of May 2, the WSJ noted. Over the past 24 hours, bitcoin is rising around 3% to $29.8K but still off more than 50% from its all-time high in Nov. 2021 amid macro headwinds such as rising interest rates and tighter monetary policy.