Michael Saylor’s MicroStrategy buys a fortune’s worth of Bitcoin

MicroStrategy purchased another 3,000 Bitcoin (BTC). The owner of the company, Michael Saylor, announced this via X. In total, this is a purchase worth $155 million. The average purchase value per Bitcoin purchased is $51,813.

This purchase brings the total amount of BTC owned by MicroStrategy to 193,000 BTC. In total, the company paid $6.09 billion. The average purchase price of all Bitcoins combined is therefore $31,544 per Bitcoin.

Michael Saylor buys even more Bitcoin

This means that MicroStrategy’s Bitcoin investment is well in the green. The total value of the nearly 200,000 BTC is approximately $9.91 billion.

MicroStrategy’s Bitcoin strategy doesn’t seem to care about price. The BTC price is currently at its highest level since December 2021. However, this does not seem to be stopping the company from continuing to buy Bitcoin.

The company purchased Bitcoin for the first time in August 2020. It has remained that way ever since. Both during the highs of the bull market and the low lows of the bear market. This dollar-cost averaging (DCA) strategy appears to be working well for now, with nearly $4 billion in unrealized profits.

Big plans from MicroStrategy

However, it is unlikely that MicroStrategy will ever realize these gains. Speaking to Bloomberg last week, Saylor hinted that he would never sell Bitcoin. According to Saylor, there is no better asset than BTC.

“We believe capital will continue to flow into Bitcoin from (other assets). Bitcoin is technically superior to all other asset classes. Therefore, there is simply no reason to sell Bitcoin,” said Saylor in plain English.

Officially, MicroStrategy is a software company. But that will soon change. Earlier this month, Saylor discussed the company’s future plans in an interview. Due to Bitcoin’s greatest successes, Saylor wants to transform his company into a “Bitcoin development company.” Read more about it in this article.

Read Also:  90% of Spanish consumers shop online

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here