MicroStrategy Adds Up 3,907 BTC Units to Bring Total Assets to 108,992 Units

American business intelligence and software firm MicroStrategy has again inspired the cryptocurrency ecosystem with its Bitcoin (BTC) accumulation. Taking to Twitter, the company’s Chief Executive Officer (CEO), Michael Saylor, announced a new acquisition of 3907 units of the premier digital currency at an approximate price of $45,294 per coin.

“MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21, we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin,” Saylor unveiled on Twitter.

MicroStrategy made its first Bitcoin purchase worth $250 million in August 2020 through its introduced capital allocation strategy. Since then, the company has not relented in scooping up the cryptocurrency at any given opportunity, a move it has boldly favoured even through the issuance of over $400 in Convertible Senior Notes. These are debt instruments that have multi-year maturity dates. This latest acquisition was made from the sales proceeds from ATM Facility sales, according to the company.

“We find the global acceptance, brand recognition, ecosystem vitality, network dominance, architectural resilience, technical utility, and community ethos of Bitcoin to be persuasive evidence of its superiority as an asset class for those seeking a long-term store of value,” said Saylor in his attempts to make a case for putting investors cash in the highly volatile cryptocurrency. “Bitcoin is digital gold – harder, stronger, faster, and smarter than any money that has preceded it. We expect its value to accrete with advances in technology, expanding adoption, and the network effect that has fueled the rise of so many category killers in the modern era.”

Saylor has received backlash from several Bitcoin critics, particularly Peter Schiff. However, his relentless efforts to stack up Bitcoin irrespective of the current regulatory hurdles around the coin has showcased that he puts his money where his mouth is.

Image source: Shutterstock


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MicroStrategy Discloses A $15M Bitcoin Purchase

When it comes to bitcoin, MicroStrategy is looking for more. This comes after buying over 20,000 BTC in the first quarter of the year, at an average cost of roughly $52K (for a total cost exceeding $1B). Now, the business intelligence firm led by Bitcoin advocate Michael Saylor is adding to their position.

The Macro MicroStrategy

Saylor shared on Twitter today that the company purchased an additional 271 BTC, at a cost of $55,387 per coin. He also noted that as of today, the company holds over 90K BTC in total with an average of just over $24K per coin. Also included in the Twitter post is the company 8-K referencing the purchase.

In a Q1 release, the company stated that “first-quarter results were a clear example of our two-pronged corporate strategy, to grow our enterprise analytics software business and acquire and hold bitcoin which is generating substantial shareholder value”. The company’s latest bitcoin purchase seems to reaffirm that position from just a couple months ago.

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The news comes on the heels of Tesla CEO Elon Musk suspending payments in bitcoin for vehicle purchases, citing environmental concerns.

Related Reading | $425Bn Wiped Off Crypto Market As Musk Says Bitcoin Is Bad For the Environment

Who’s Who

MicroStrategy ($MSTR) is the largest independent publicly-traded business intelligence company in the US, with a product used by a number of different Fortune 500 firms. The recent 8-K, and previous bitcoin purchases, aren’t the first time MicroStrategy has ingrained crypto into the business. Just last month, the firm released an 8-K disclosing it’s decision to pay their board of directors in Bitcoin.

Saylor has been an outspoken crypto advocate, and last year led MicroStrategy to be the first publicly-traded company to modify corporate strategy in adopting bitcoin. Only 32 publicly traded companies, of 40,000 on the market, have bitcoin on their balance sheet. MicroStrategy is the largest publicly-traded corporate BTC holder to date. The firm’s stock took a nearly 10% dip on the day.

MicroStrategy reported a 10% jump in revenues in the first quarter, with an over 50% increase in product licenses and and subscription revenues.

MicroStrategy continues to look to "buy the dip" | Source: BTC-USD on TradingView.com

The Crypto Conviction

As if the public-facing business decisions weren’t enough, Saylor’s statements on crypto broadly will tell you quite a bit about the company’s optimistic perspective. Just yesterday, Saylor described bitcoin as the “most powerful and disruptive technology of our lifetime”. Additionally, Saylor hosted a “Bitcoin for Corporations” conference in February. Saylor often talks of the ‘Bitcoin Standard’ as a way to help struggling countries revive their economies.

Given that Saylor continues to be a vocal advocate for crypto, even saying that there is “zero chance” of bitcoin being replaced, it seems like MicroStrategy’s engagement in the space is likely to continue through the coming quarters.

Related Reading | Crypto Analyst Claims MicroStrategy Is “On The Ropes” Amidst Bitcoin Selloff

Featured image from Pixabay, Charts from TradingView.com


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@cryptoblock192 @davidgokhshtein We don’t accept Bitcoin as payment. No merchants do. We allow customers to use Bitpay to sell their Bitcoin prior to making a purchase. So Schiff Gold is paid in dollars, not in Bitcoin.

@cryptoblock192 @davidgokhshtein We don’t accept #Bitcoin as payment. No merchants do. We allow customers to use Bitpay to sell their Bitcoin prior to making a purchase. So Schiff Gold is paid in dollars, not in Bitcoin.


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MicroStrategy to MacroStrategy: CEO Michael Saylor Announces Purchase of $50 Million Worth of BTC

Bitcoin Exchange Hands

Bitcoin Exchange HandsMicroStrategy might want to change its name to MacroStrategy if their bitcoin (BTC) purchases are anything to go by. MicroStrategy Buys Another $50 Million Worth of Bitcoin MicroStrategy, a publicly traded business intelligence firm has added another $50 million worth of BTC to its balance sheet. The development was shared by MicroStrategy CEO Michael Saylor

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