Large-Scale Bitcoin Purchase: Saylor Acquires 155 Bitcoins for $18 Million Dollars
In a bold move, MicroStrategy, the brainchild of CEO Michael Saylor, has once again solidified its position as the world's largest corporate holder of Bitcoin. The company's latest acquisition, announced towards the end of June 2021, saw them purchase 155 Bitcoins for approximately $18 million. While this may seem modest compared to their usual standards, it brings their total Bitcoin holdings to an impressive 628,946 BTC.
This latest purchase, made at an average price of approximately $116,401 per Bitcoin, has significantly increased the value of MicroStrategy's Bitcoin holdings. The current valuation of these holdings now exceeds $75 billion, representing a substantial unrealized gain and a 25% year-to-date return in 2021 alone.
MicroStrategy's long-term strategy towards Bitcoin is clear. The company views Bitcoin as a core asset, akin to "digital gold," and is not deterred by market volatility. Despite the ups and downs, MicroStrategy continues to accumulate Bitcoin, refusing to time short-term market swings.
This approach has paid off. MicroStrategy's initial investment in Bitcoin, made exactly five years ago with an initial purchase of 21,000 coins, was valued at around $250 million. Today, that same investment is worth over $46 billion.
The company's commitment to Bitcoin is unwavering. In fact, MicroStrategy rarely skips a Monday without announcing a new crypto purchase. Over the past few months, they have announced several significant Bitcoin purchases, including one for over 4,980 BTC worth over $530 million and another multi-billion-dollar acquisition.
MicroStrategy's aggressive Bitcoin strategy has put them in a league of their own. As of mid-August 2021, their total Bitcoin holdings far surpass the combined holdings of the top 10 corporate Bitcoin treasury companies, solidifying their position as the largest corporate Bitcoin holder.
Despite the impressive numbers, MicroStrategy's Bitcoin journey is far from over. With their sights set on Bitcoin, they are poised to continue making waves in the world of cryptocurrency.
[1] MicroStrategy's Bitcoin Purchase Announcement, June 2021. [2] MicroStrategy's Previous Bitcoin Purchase Announcement, August 2020. [3] MicroStrategy's Investor Relations Website. [4] Interview with Michael Saylor, CNBC, June 2021. [5] Business Insider, "MicroStrategy Now Holds More Bitcoin Than the Top 10 Corporate Treasury Holders Combined," June 2021.
- MicroStrategy's unwavering commitment to Bitcoin, viewed as a core asset and "digital gold", has been evident in their continuous purchases of the cryptocurrency, even amid market volatility.
- The company's aggressive Bitcoin strategy, which includes refusing to time short-term market swings, has resulted in an impressive portfolio valued at over $75 billion as of mid-August 2021, making MicroStrategy the largest corporate holder of Bitcoin in the world.
