Saturday , May 21 2022

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


US business intelligence firm MicroStrategy bought bitcoins (BTC) for a third million dollars on Friday. This time the amount invested was $ 50 million in cash, according to its founder and CEO, Michael Saylor.

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

“MicroStrategy has purchased approximately 2,574 bitcoin for $ 50 million in cash, in accordance with its Treasury Contingency Policy, at an approximate average price of $ 19,427 per bitcoin. Now we have about 40,824 bitcoins ”, was the message that spread Saylor on the social network which already has more than 13,000 likes, 3,000 retweets and 1,000 comments.

The MicroStrategy purchase was notified the Securities and Exchange Commission (SEC), as the U.S. financial sector regulator, according to an attached document shared by Saylor. The text, also disclosed by the SEC on its website, is listed as signatory W. Ming Shao, who serves as MicroStrategy’s senior executive vice president and general counsel.

MicroStrategy’s new move is drawing attention as the bitcoin price is floundering at its highest ever for several weeks. That is, the company seems to be paying no more attention to the market price of cryptocurrency, but rather to accumulate bitcoins regardless of price. At the time of publishing this article, the price of BTC was $ 19,083, according to the CriptoNoticias market index.

By multiplying the amount of bitcoins obtained by the current price, the company is found to hold 780 million dollars at BTC in its treasury.

MicroStrategy and its attitude to bitcoin

The corporation began investing in bitcoin in August this year by acquiring a total of 21,454 BTC for a sum of $ 250 million. A month later, CriptoNoticias reported a second purchase, this time for 16,000 BTC and 175 million dollars. Adding the amount invested this Friday, the company is exhibiting a global investment of 475 million dollars.

Saylor himself has defended his stance on bitcoin by saying he already has a global acceptance and demonstrates architectural resilience. To the executive, these elements “are persuasive evidence of its excellence as an asset class for those seeking a long-term store of value.”

So far, bitcoin operations have brought good financial results for the company. In fact, in October, and given the first two purchases, the company made more profit with two months in bitcoin than in three years of offering its services.

The transaction that took place this Friday by MicroStrategy is in line with a flow of institutional investment in bitcoin. In the past 18 months, more companies have approached the bitcoiner ecosystem. Some of the companies that have made their bitcoin investments public are: Grayscale, Galaxy Digital, Square and Stone Ridge Asset Management, for example.

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