Thursday, September 23, 2021
HomeNewsMichael Saylor bought $ 242 million worth of Bitcoin

Michael Saylor bought $ 242 million worth of Bitcoin

MicroStrategy buys the dip. The company adds several thousand BTC to its holdings.

As if they didn’t have enough anyway: As Michael Saylor, CEO and founder of MicroStrategy, announced via Twitter at noon on September 13th, the company has bought Bitcoin again. According to Saylor, this time it was 5,050 BTC that the company bought at an average price of $ 48,099 per BTC. The purchase of the coins cost the company $ 242.9 million.

In total, MicroStrategy now holds 114,042 BTC with a total value of no less than $ 5.131 billion. This makes the US company one of the largest BTC traders in the world and holds around 0.5 percent of all Bitcoin in circulation.

The company’s shareholders should be pleased. After all, MSTR “only” spent $ 3.16 billion on its BTC inventory, which is about $ 2 billion up. The average price of all purchases is US $ 27,713 per Bitcoin – “including fees”. That emerges from a document to the US Securities and Exchange Commission that the company filed today.

Saylor had previously posted one of his famous aphorisms on Twitter, probably referring to his accumulation strategy for digital gold.

Michael Saylor is of course one of the most bullish Bitcoin investors ever. Since his company first invested in cryptocurrency in the summer of 2020, hardly a month has passed in which we do not report new acquisitions of what may soon be the world’s largest digital gold treasure. Before the market opens in the US, the unit price of MicroStrategy shares is around 1 percent up and is currently quoted at 615 US dollars.

Bitcoin itself hardly takes any notice of the purchase and is only 0.1 percent up at the hour.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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