SNEAK PEEK
- 301 Bitcoins (BTC) were purchased by MicroStrategy for around $6 million between August 2 and September 19.
- The largest cryptocurrency in the world was bought by MicroStrategy CEO Michael Saylor for an average price of $19,851 per coin.
- One of Bitcoin’s most well-known proponents, Michael Saylor, has been enthused about the asset class ever since the company first bought BTC in 2020.
According to a filing with the U.S. Securities and Exchange Commission on Tuesday, MicroStrategy purchased 301 Bitcoins (BTC) between August 2 and September 19 for nearly $6 million.
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
— Michael Saylor⚡️ (@saylor) September 20, 2022
According to the filing, the software firm co-founded by businessman and supporter of cryptocurrencies Michael Saylor the CEO of MicroStrategy, purchased the biggest cryptocurrency in the world for an average price of $19,851 per coin. The well-known bitcoin holder MicroStrategy keeps the digital money in its reserves. With an acquisition cost of $3.98 billion, or $30,639 per coin, it already holds almost 130,000 bitcoins.
According to Coingecko data, MicroStrategy possesses over 10 times as much Bitcoin as the closest publicly traded corporation that owns the flagship asset based on its most recent acquisition. To purchase more Bitcoin, MicroStrategy said on September 99 that it could sell up to $500 million of its class A common shares.
Michael Saylor is an outspoken proponent of Bitcoin. In Washington DC, he and the company are being investigated for alleged tax evasion.
Saylor recently claimed that since adopting the Bitcoin standard, his company’s stock had beaten those of large tech giants like Google, Meta, Netflix, and Microsoft.
In the meantime, the price of Bitcoin increased by 2.1% over the previous day to $19,124. Within the previous seven days, the asset’s value had fallen as low as $18,471.
Michael Saylor, one of Bitcoin’s most well-known supporters, has been enthusiastic about the asset class since before the business first purchased BTC in 2020. According to Invezz, he just announced his resignation as CEO of the company, saying that doing so would allow him to focus more clearly on the Bitcoin strategy.
He tweeted this past weekend, while Bitcoin was battling bearish pressure, to contrast the cryptocurrency asset’s performance since 2020 to that of other asset classes. In his tweet, he shows how Bitcoin has outperformed most other assets, including the S&P 500, gold, and bonds.
