MicroStrategy buys another $10 million of Bitcoin, and it’s now sitting on over $2 billion in BTC 🚨 This article is 4 years old...
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MicroStrategy buys another $10 million of Bitcoin, and it’s now sitting on over $2 billion in BTC
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Updated: Feb. 2, 2021 at 2:33 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Expect Micheal Saylor to purchase all your Bitcoins the minute you stop paying attention.
The MicroStrategy CEO announced today that the enterprise software maker had purchased over $10 million worth of Bitcoin, adding to its war chest of over two billion dollars worth of the asset already.
“MicroStrategy has purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin,” announced Saylor on Twitter, adding the company now held 71,079 Bitcoin acquired for $1.145 billion at an average price of ~ $16,109 per Bitcoin.
MicroStrategy has purchased approximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin. We now #hodl ~ 71,079 bitcoins acquired for $1.145 billion at average price of ~ $16,109 per bitcoin.https://t.co/lmj3QCgKbw
— Michael Saylor (@michael_saylor) February 2, 2021
Saylor, and MicroStrategy, have been purchasing Bitcoin since last year, starting with a $250 million purchase that expanded more to over $450 million, to later over a billion dollars. The firm has pledged to invest all of its excess treasury funds into Bitcoin moving forward.
The firm is also urging other companies to buy Bitcoin for their treasury funds. Last week, as CryptoSlate reported, MicroStrategy invited companies and business executives to its upcoming seminar on the asset class wherein the firm shall release its “Bitcoin Playbook.”
That, in turn, is said to contain legal, governance, and financial considerations for other corporations to consider and refer to while making their own Bitcoin purchases.
It will be presented by MicroStrategy CFO Phong le, who will walkthrough corporations and attendees about key strategic and operational considerations and associated steps to consider for corporations integrating Bitcoin into a treasury reserve strategy.
Meanwhile, the news of today’s purchase came right after Saylor said this morning, “My formula for success is rise early, work late, and buy #bitcoin.”
My formula for success is rise early, work late, and buy #bitcoin.
— Michael Saylor (@michael_saylor) February 2, 2021
But who knew he would actually end up doing that?
Update: An earlier version of this article incorrectly stated how much Bitcoin MicroStrategy owns.
Bitcoin Market Data
At the time of press 2:33 pm UTC on Feb. 2, 2021, Bitcoin is ranked #1 by market cap and the price is up 2.38% over the past 24 hours. Bitcoin has a market capitalization of $644.47 billion with a 24-hour trading volume of $61.08 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 2:33 pm UTC on Feb. 2, 2021, the total crypto market is valued at at $1.04 trillion with a 24-hour volume of $147.97 billion. Bitcoin dominance is currently at 62.18%. Learn more about the crypto market ›
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
Michael Saylor is the Executive Chairman, founder, and principal shareholder of MicroStrategy.