MicroStrategy Makes Largest Bitcoin Investment Since 2021
Michael Saylor’s MicroStrategy and its subsidiaries have recently acquired 16,130 Bitcoin for around $593.3 million. Saylor, who has been a prominent Bitcoin bull, has become more aggressive in his investments as the crypto winter appears to be ending.
Acquisition Details
Saylor announced on Twitter that MicroStrategy purchased the 16,130 BTC at an average cost of $36,785 per Bitcoin, totaling approximately $593.3 million. According to the company’s filing with the US Securities and Exchange Commission, MicroStrategy now holds a total of about 174,530 Bitcoin, acquired at an average purchase price of around $30,252 per Bitcoin.
Profitability and Track Record
After holding onto his Bitcoin portfolio throughout the bear market, Saylor finally became profitable as Bitcoin crossed $31,000 in October. Excluding the recent purchase, MicroStrategy’s Bitcoin portfolio has an unrealized profit of about $1.2 billion. This latest acquisition marks the largest Bitcoin investment by MicroStrategy since February 2021 when Saylor announced the purchase of $19,452 Bitcoin worth $1.026 billion.
Saylor’s Conviction in Bitcoin
The community has been impressed by Saylor’s strong conviction in Bitcoin as he continued to dollar cost average during the crypto winter. Despite facing significant unrealized losses in November 2022, Saylor remained adamant that MicroStrategy would not sell and even continued buying more Bitcoin in December 2022.
Hot Take: MicroStrategy Continues Its Bullish Stance on Bitcoin
MicroStrategy’s recent large-scale investment in Bitcoin demonstrates its continued bullish stance on the cryptocurrency. With founder Michael Saylor leading the way, the company has consistently shown confidence in Bitcoin as a long-term investment. As Bitcoin’s value continues to rise, MicroStrategy’s holdings have become increasingly profitable, solidifying their position as a major player in the crypto market.
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