MicroStrategy Buys 1,900 Bitcoin in December
Virginia-based business intelligence company, MicroStrategy, recently acquired 1,900 bitcoin at an average price of $49,200 per BTC for a total of $94 million. This brings the total number of bitcoin owned by Microstrategy to 124,391 acquired at an average price of $30,160.
This comes as no surprise considering how vocal the company has been in advocating for bitcoin’s adoption as a corporate treasury reserve asset.
With its latest purchase, MicroStrategy has spent a total of $3.8 billion acquiring bitcoin since its initial purchase in August of 2020.
The new purchase comes shortly after the company made another purchase of 7,000 bitcoins in November.
CEO Michael Saylor recently reiterated MicroStrategy’s intention to continue with its strategy of acquiring and holding bitcoin.
We don’t wish to express a general opinion or take investment risk with regard to which platform, which application, and which use case of bitcoin will be most successful. We think that the least risky, most diversified investment strategy is to simply hold bitcoin.
Bitcoin has become a crucial part of many individuals’ investment plans as it ended 2021 60% higher vs. the dollar. Microstrategy’s share price has been strongly correlated with bitcoin’s price movements and it ended 2021 up 35%.
Future of Bitcoin
The fundamentals continue to remain strong for bitcoin with 90% of the total supply mined and increased demand from both retail and institutional investors throughout 2020 and 2021.
These supply and demand dynamics may help spur a price rise to the much-coveted $100,000 BTC price many investors and bitcoin enthusiasts have been predicting.
At $100,000 per bitcoin, the total market capitalization of bitcoin would reach approximately $2 trillion. This would help further cement its acceptance in the traditional financial world as a valid alternative to gold.
About Microstrategy
MicroStrategy is a 32-year-old company that focuses on providing multiple products and services. These include business intelligence, mobile software, and cloud-based services.
The company announced its first Bitcoin purchase in August of 2020 with a $250 million purchase of approximately 21,000BTC. Since then, the company has continued to add to its holdings and now owns over 0.65% of all the bitcoin mined to date.
Virginia-based business intelligence company, Microstrategy, recently acquired 1,900 bitcoin at an average price of $49,200 per BTC for a total of $94 million. This brings the total number of bitcoin owned by Microstrategy to 124,391 acquired at an average price of $30,160.
This comes as no surprise considering how vocal the company has been in advocating for bitcoin’s adoption as a corporate treasury reserve asset.
With its latest purchase, Microstrategy has spent a total of $3.8 billion acquiring bitcoin since its initial purchase in August of 2020.
The new purchase comes shortly after the company made another purchase of 7,000 bitcoins in November.
CEO Michael Saylor recently reiterated Microstrategy’s intention to continue with its strategy of acquiring and holding bitcoin.
“We don’t wish to express a general opinion or take investment risk with regard to which platform, which application, and which use case of bitcoin will be most successful. We think that the least risky, most diversified investment strategy is to simply hold bitcoin.”
Bitcoin has become a crucial part of many individuals’ investment plans as it ended 2021 60% higher vs. the dollar. Microstrategy’s share price has been strongly correlated with bitcoin’s price movements and it ended 2021 up 35%.
Future of Bitcoin
The fundamentals continue to remain strong for bitcoin with 90% of the total supply mined and increased demand from both retail and institutional investors throughout 2020 and 2021.
These supply and demand dynamics may help spur a price rise to the much-coveted $100,000 BTC price many investors and bitcoin enthusiasts have been predicting.
At $100,000 per bitcoin, the total market capitalization of bitcoin would reach approximately $2 trillion. This would help further cement its acceptance in the traditional financial world as a valid alternative to gold.
About Microstrategy
Microstrategy is a provider of business intelligence, mobile software, and cloud-based services.
The company announced its first Bitcoin purchase in August of 2020 with a $250 million purchase of approximately 21,000BTC. Since then, the company has continued to add to its holdings and now owns over 0.65% of all the bitcoin mined to date.