- Michael Saylor announced that the company has purchased another 16,130 BTC at an average price of approximately $36,785 per Bitcoin, bringing the total value to around $593.3 million.
- According to the announcement, the company holds 174,530 BTC acquired at an average price of $30,252 as of November 29, equivalent to about $5.28 billion.
- The desire to hold the leading cryptocurrency is an indicator of MicroStrategy’s market confidence in Bitcoin.
Michael Saylor’s MicroStrategy company announced that it has made a purchase, continuing its Bitcoin plans at full speed: How many BTC does the company hold?
New Bitcoin Purchase from MicroStrategy
Michael Saylor’s company, MicroStrategy, is actively continuing its Bitcoin plans, revealing another purchase of 16,130 BTC at an average price of $36,785 per Bitcoin, totaling approximately $593.3 million in value.
According to the announcement, the company holds 174,530 BTC acquired at an average price of $30,252 as of November 29, equivalent to about $5.28 billion. This is another positive step strengthening the company’s position as the “most bullish” Bitcoin firm on Wall Street.
This move underscores the company’s resilience in following its Bitcoin strategy. MicroStrategy CEO Phong Le once again affirmed that the business software company intends to only buy and hold the leading cryptocurrency as an asset.
No Slowdown Plan for MicroStrategy’s Pace
The desire to hold the leading cryptocurrency is an indicator of MicroStrategy’s market confidence in Bitcoin. In a podcast, Michael Saylor referred to Bitcoin as “crypto gold engineered with perfection,” highlighting its potential as a store of value and protection against inflation compared to traditional assets.
Saylor stated, “When I started thinking about what money was, and I realized I was going to lose my money and destroy the livelihoods of all my employees… when Jerome Powell said what I was thinking: When you raise interest rates, you know your bond investment strategy is broken.”
The Bitcoin proponent emphasized that Bitcoin’s scarcity and durability make it a better alternative to many traditional investment strategies, including stocks and gold, in the face of the current rise in Bitcoin price. MicroStrategy’s significant profit through its massive investment in cryptocurrency is noteworthy.
