Monday , March 8 2021

MicroStrategy shows cold blood and buys 2,500 BTC at $ 19,400

US business intelligence firm MicroStrategy made $ 3 million on Friday to buy bitcoins (BTC). This time the amount invested is $ 50 million in cash, according to its founder and CEO, Michael Saylor.

The executive, through its Twitter account, revealed that the operation was for 2,574 bitcoins, which confirms the great interest shown by the corporation for investments in the first cryptocurrency.

“MicroStrategy bought approximately 2,574 bitcoins for $ 50 million in cash, in line with its Vault policy, at an average average price of $ 19,427 per bitcoin. “We now have approximately 40,824 bitcoins,” was the message spread Sailor on a social network that already has more than 13,000 likes, 3,000 retweets and 1,000 comments.

The purchase of MicroStrategy was notified to the Securities and Exchange Commission (SEC), as a regulator of the US financial sector, according to the attached document shared by Saylor. The text, also published by the SEC on its website, is listed as signatory C. Ming Shao, who serves as Senior Executive Vice President and General Advisor to MicroStrategy.

MicroStrategy’s new move is astonishing because the price of bitcoin has been flirting with its highest history in weeks. In other words, the company does not seem to pay more attention to the price of cryptocurrency in the market, but to accumulate bitcoins regardless of their price. At the time of writing, BTC was priced at $ 19,083, according to the CryptoNotics market index.

By multiplying the amount of bitcoins acquired at the current price, it turns out that the company holds $ 780 million in BTC in its coffers.

MicroStrategy and its approach to bitcoin

The corporation started investing in bitcoin in August this year, acquiring a total of 21,454 BTC for $ 250 million. One month later, CriptoNoticias announced a second acquisition, this time for 16,000 BTC and $ 175 million. When the investment is added this Friday, the company exhibits a global investment of $ 475 million.

Sailor himself defended his position on bitcoin, saying he already had it global acceptance and shows architectural resilience. For the executive, these elements “are convincing evidence of its superiority as a class of assets for those seeking long-term stock of value.”

So far, working with bitcoin has brought good financial results to the company. In fact, in October, and given the first two acquisitions, the company made more profit in two months in bitcoin than in three years by offering its services.

The transaction conducted this Friday by MicroStrategy is in line with the inflow of institutional investments in bitcoin. Over the last 18 months, more companies have moved closer to the bitcoin ecosystem. Some of the companies that have made their bitcoin investments public are: Gray, Galaxy Digital, Square and Stone Ridge Asset Management, for example

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