The MicroStrategy Bitcoin Portfolio
American blockchain intelligence firm, MicroStrategy Incorporated, has increased its Bitcoin holdings by acquiring an additional 5,445 BTC tokens. This move further solidifies MicroStrategy’s position as one of the largest institutional backers of Bitcoin. The latest acquisition is worth approximately $147.3 million, with an average price of $27,053 per Bitcoin. According to Michael Saylor, the Chairman of MicroStrategy, the company now holds a total of 158,245 BTC acquired for about $4.68 billion at an average price of $29,582 per Bitcoin.
MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR
— Michael Saylor⚡️ (@saylor) September 25, 2023
MicroStrategy’s Positive Stance
MicroStrategy’s consistent accumulation of Bitcoin has garnered both criticism and accolades. However, its unwavering commitment to acquiring Bitcoin has allowed the company to build a substantial treasury reserve of the cryptocurrency. This has further solidified its position in the crypto space and serves as encouragement to the broader industry. In the first quarter of 2023 alone, MicroStrategy purchased 12,800 BTC at an average cost of $28,233 per coin, totaling $361.4 million. During the same period, MicroStrategy’s stock price increased by 200%, while its core business sales and subscription services revenue saw significant year-over-year growth.
Michael Saylor’s Vision
Michael Saylor, the visionary leader behind MicroStrategy’s crypto strategy, has been a vocal advocate for Bitcoin as a store of value and an inflation hedge. The company’s journey into the world of Bitcoin began in August 2020 with its first purchase. Since then, MicroStrategy has continued to accumulate Bitcoin in various tranches, often leveraging its stock sales. Saylor’s strategic vision has not only provided MicroStrategy with a substantial Bitcoin reserve but has also inspired other major corporations and institutions to consider cryptocurrencies as strategic treasury assets. As more companies follow suit, the cryptocurrency market is likely to experience increased liquidity, stability, and recognition.
Hot Take: MicroStrategy Continues to Lead Institutional Adoption of Bitcoin
MicroStrategy’s ongoing accumulation of Bitcoin showcases its confidence in the long-term potential of the cryptocurrency. By consistently adding to its Bitcoin holdings, MicroStrategy has solidified its position as a major institutional backer of Bitcoin. This strategy has not only increased MicroStrategy’s treasury reserve but has also influenced other companies and institutions to consider cryptocurrencies as part of their strategic assets. With MicroStrategy leading the way, the cryptocurrency market is set to experience greater liquidity, stability, and mainstream recognition. Michael Saylor’s unwavering belief in Bitcoin’s merits has been proven right as its adoption and value continue to rise despite occasional market fluctuations.
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