MicroStrategy Buys Another $50M Worth of Bitcoin
Microstrategy CEO Michael Saylor tweeted on Friday mentioning that the company purchased approximately 2,574 more Bitcoin for $50 million in cash. The billion-dollar company accumulated closer to 40,824 Bitcoins to the date. Their bitcoins are now worth closer to $780 million at the present market value.
MicroStrategy Bitcoin Purchase: Not Their First Time
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software. The company invested close to $250 million in August buying 21,454 bitcoins. The price of the token was in the $11,700 range at the time of the purchase. Their journey did not stop there and they bought another 16,796 bitcoin in September at the price dip of bitcoin was around the $10,600 range.
The price of the digital asset Bitcoin is continually rising testing a few of the major resistance points. The price mark of the world’s largest cryptocurrency achieved another all-time high this week closing on the $20,000 target. Michael Saylor – CEO of MicroStrategy remains bullish with his continuous purchases of Bitcoins.
According to the Bitcoin Treasuries, MicroStrategy Inc. is the largest holder of bitcoin as a publically traded company having 40,824 BTC in their portfolio. The second-largest publically traded company is Galaxy Digital Holdings and they hold 16,651 BTC. Square Inc holds 4,709 BTC securing the third position. A total of 70,357 BTC are held by publically traded companies worth closer to $1,344,073,100 in their portfolios.
MicroStrategy has been in the media for sometime after their first massive investment in bitcoin. All this time Saylor has been a great supporter and a fan of Bitcoin. He revealed that he holds 17,732 BTC in his personal portfolio which he bought at a $9,882 average price.
The CEO, Saylor also states that:
“Bitcoin is a swarm of cyber hornets that are serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.”
Do you agree with Michael Saylor? Leave a comment on the comments section below.
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