Yesterday, Michael Saylor, the founder of MicroStrategy, announced that the company recently bought an additional 1,045 BTC. After the recent purchase, the company now owns 140,000 Bitcoin. He informed the public about this acquisition through his Twitter account and shared a report issued by the US Securities and Exchange Commission (SEC). According to the report, MicroStrategy purchased 1,045 BTC between Mar. 24 and Apr. 4. The combined purchase was $29.3 million and everything was paid in cash. The average price of Bitcoin in this round of buys was around $28,016. As of April 04, 2023, the company purchased approx. 140,000 BTC. The average purchase price is approximately $4.17 billion, from the company’s first purchase to its last. The report shows that the average purchase price of Bitcoin is $29,803.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv
— Michael Saylor⚡️ (@saylor) April 5, 2023
MicroStrategy has been stacking up on Bitcoin ever since 2021. In just two years, the company has acquired over 140,000 BTC. This is huge for the crypto industry and for MicroStrategy as well. Michael Saylor is known for his Bitcoin advocacy and he has consistently voiced his opinion on Bitcoin. After the recent purchase, MicroStrategy owns 1 out of every 150 BTC that will ever exist. To put it into another perspective, if MicroStrategy sold 1 BTC per hour on a daily basis for 15 years, they would still have some Bitcoin left. This amount of investment is crazy when you think about it. However, considering the potential of Bitcoin and its technology, this might turn out to be the best investment in history.
Michael Saylor And His Bond With Bitcoin
Saylor has consistently expressed his opinions on Bitcoin. He made sure that the world knows his pro-Bitcoin approach through Twitter and his countless tweets. However, Saylor also uses Instagram, another major social media platform. What makes it interesting is that Saylor’s Instagram account is only used to post Bitcoin. Every single post of Saylor on Instagram is related to Bitcoin, one way or the other. Saylor allegedly uses artificial technology (AI) to create these posts and every single one of the artworks he posts has the BTC logo on it.
Michael Saylor’s Instagram Account. Source: Instagram
Saylor’s approach to Bitcoin is very positive for the market as it promotes the benefits and “freedom” granted by Bitcoin and blockchain. In other words, Saylor is a Bitcoin Maxi and we don’t think he will change. Instead of entering the cryptocurrency market with his own project, Saylor believes that Bitcoin is perfect and decided to keep investing in it.
