MicroStrategy’s Bold Move in Bitcoin
On April 5, 2023, MicroStrategy, the American business intelligence giant, made waves in the cryptocurrency world by announcing their acquisition of an additional 1,045 Bitcoin (BTC) for about $29.3 million. This transaction puts the average cost per BTC at around $28,016, as revealed in a tweet from Executive Chairman Michael Saylor.
Total Holdings and Investment Significance
As it stands, MicroStrategy’s Bitcoin stash has reached a staggering total of 140,000 BTC, acquired at an estimated cost of $4.17 billion. The average price for their Bitcoin investments hovers around $29,803 per Bitcoin. This latest acquisition is not just a number; it marks a pivotal moment in MicroStrategy’s strategy, emphasizing their unwavering confidence in cryptocurrency as a reserve asset.
Michael Saylor: Bitcoin’s Knight in Shining Armor
Saylor is not just a figurehead; he’s a declared champion for Bitcoin in the corporate sector. Ranked number 14 on Cointelegraph’s Top 100 in the crypto scene, Saylor believes Bitcoin is the secures and most reliable store of value available today. His arguments often highlight how Bitcoin could serve businesses as a safeguard against inflation—a topic close to the hearts of many financial aficionados.
Continuing the Journey: From Loans to Acquisitions
In an unexpected plot twist, MicroStrategy recently repaid its Silvergate loan before treating itself to a little Bitcoin shopping, acquiring 6,500 BTC towards the end of March. Now, if that doesn’t scream ‘dollar-cost averaging on steroids,’ what does?
A Consistent Bitcoin Strategy
Since making its first Bitcoin purchase in August 2020, MicroStrategy has shown remarkable consistency by steadily building its crypto portfolio. With the latest acquisition, the total value of Bitcoin on their balance sheet surpasses $12.6 billion. It’s clear that MicroStrategy is in it for the long haul, a testament to their faith in the digital currency’s potential for future growth and stability.
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