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Michael Saylor Highlights Hut8’s Big Bitcoin Purchase
In another X post published today, the head of MicroStrategy shared the news about crypto mining company Hut8 making a purchase of a substantial crypto chunk – 990 Bitcoins.
As per the tweet by Michael Saylor, Hut8 has acquired this BTC batch for approximately $100 million, paying roughly $101,710 per coin on average. This significant purchase indicates that Hut8 is building up its own strategic Bitcoin reserve, which now comprises more than 10,000 BTC worth around $1 billion as of December 18.
This development echoes similar moves by Michael Saylor’s company, MicroStrategy, which has been consistently purchasing large amounts of Bitcoin over the past few years.
Source: u.today
