TL; DR failed
- Microstrategy bitcoin is now worth $ 7 billion.
- The company recently purchased 9,000 bitcoins in September.
- Michael Seiler says Microstrategy will continue to buy more bitcoins.
Bitcoin has become very popular over the years due to its massive price increase since its inception. Although some people are still indifferent to assets, more people are still buying assets. That’s why its price is currently good in the market and it trades very high at $ 60,000. Last year, when the trading company Microstrategy announced that it would enter the Bitcoin space, the news broke and it made extensive purchases in this area. The company recently purchased another 9,000 bitcoins to add to the bitcoins it has purchased over the years. Currently, it has 114042 bitcoins, which brings its bitcoin inventory value close to $ 7 billion.
Bitcoin balance was released in its third quarter report
In the third quarter report released by the agency yesterday, the company bought all the bitcoins in its range for $ 3.1 billion. Putting it in the calculations means that the company bought a bitcoin for $ 27,713. As mentioned above, this form began to penetrate the crypto sector after the purchase of Bitcoin worth $ 425 million in 2020.
A quick look at its bitcoin inventory at the end of the year showed that it had risen to $ 1.125 billion following declining returns and some purchases. The company did not stop there, as it made another large acquisition of $ 19,452 billion in February. With the new acquisition worth $ 1.026 billion, the total value of Microstrategys’s leading asset in Kiev increased to $ 4.5 billion. Since then, the company has continued to add small amounts of bitcoins to its wallet.
Microstrategy CEO wants to continue buying bitcoins
According to Michael Seiler, Bitcoin champion and CEO of Microstrategy, the company hopes not to sell any of its assets in the future. This is a trading strategy that most people believe that assets will continue to rise in price over the years. The big bitcoin investment micro-strategy forced traders like Raoul Paul and institutions like Square to trust Bitcoin and buy assets.
In December 2020, Sayler advised Tesla CEO Ilan Musk to transfer his balance sheet from Fiat currencies to Bitcoin. He stated that this would be of great benefit to the company. Two months after Sayler’s announcement, Tesla announced that it had bought bitcoin worth $ 1.5 billion. Reviewing the Q3 report, Saylor stressed that Microstrategy is now one of the largest state-owned companies with digital assets. He also noted that the company will not miss any opportunity to buy assets in the future.
The CEO also told reporters that his bitcoin balance is $ 1.08 billion. The seller bought the 17732 bitcoins at an average price of $ 9882, Sealer said. Finally, he noted that he had already purchased the assets before offering Microstrategy to buy Bitcoin.