MicroStrategy, the company run by Michael Saylor, has doubled its money since investing in Bitcoin. Your initial $ 3.16 billion is now worth $ 6.7 billion. The company remains positioned as a leader in the Bitcoin space.
By the way, Michael Saylor, started buying Bitcoin in August 2020. At that time, he said that it was better to keep the cryptocurrency on the company’s balance sheet rather than cash.
In this regard, Anthony Pompliano said: «In the rise in the price of Bitcoin, the success of MicroStrategy will be seen. Their balance sheets will expand.
MicroStrategy continues to increase its Bitcoin holdings
To recall, at the end of August, MicroStrategy invested $ 177 million in the purchase of 3,907 BTC. Which brought their total holdings to 108,992 BTC at the time.
Likewise, on September 13, the CEO and founder of MicroStrategy, Michael Saylor, continued with his firm strategic decision to buy and include the famous cryptocurrency Bitcoin in the balance of his company.
MicroStrategy has purchased an additional 5,050 bitcoins for ~ $ 242.9 million in cash at an average price of ~ $ 48,099 per #bitcoin. As of 12/9/21 we #hodl ~ 114,042 bitcoins acquired for ~ $ 3.16 billion at an average price of ~ $ 27,713 per bitcoin. $ MSTRhttps: //t.co/2ESbTy6ad7
– Michael Saylor⚡️ (@saylor) September 13, 2021
Specifically, MicroStrategy CEO Michael Saylor announced that his company once again made another million-dollar investment in Bitcoin. Precisely, with the purchase of an additional 5,050 BTC, for about $ 242.9 million.
As a fun fact, before the announcement, Michael Saylor said: “The quieter you go, the further you will go.”
“MicroStrategy bought an additional 5,050 Bitcoins for ~ $ 242.9 million in cash. At an average price of ~ $ 48,099 per Bitcoin. The purchase brings the business intelligence firm’s total Bitcoin holdings to a total of 114,042 BTC.
He currently doubled his investment in BTC
Ultimately, the MicroStrategy company is making huge profits from its Bitcoin investments.
Notably, as of September 12, MicroStrategy had approximately 114,042 Bitcoin, acquired at a total purchase price of $ 3.16 billion and an average price of $ 27,713 per token. That investment is now valued at around $ 6.7 billion.
MicroStrategy appears to be one of the bigger beneficiaries from the euphoria surrounding the likely launch of Bitcoin ETFs https://t.co/QgV4JcQg23
– Bloomberg Markets (@markets) October 15, 2021
Interestingly, the company owns more Bitcoin than any other public company in the world. Also, MicroStrategy has no plans to sell.
So the question is not if, but when, other large companies will follow MicroStrategy’s lead.
In fact, David Tawil, president of ProChain Capital said: “Companies that own cryptocurrencies should become commonplace.”
To conclude, MicroStrategy appears to be one of the biggest beneficiaries of the euphoria surrounding the likely launch of Bitcoin ETFs. And the overall value of your holding of the cryptocurrency increases substantially.
I close with this phrase by Gustave Flaubert: “Idols should not be touched: the gold remains in the hands.”
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