MicroStrategy now holds 130,000 Bitcoin

Please fol­low and like us:
Pin Share

MicroS­trat­e­gy now owns 0.62% of all the Bit­coin (BTC) that will ever be mined. The company’s exec­u­tive chair­man, Michael Say­lor, announced that the com­pa­ny bought anoth­er 301 BTC for rough­ly $6 mil­lion at an aver­age price of $19,851 per BTC. 

In sum, the com­pa­ny is one of the planet’s largest hold­ers of the asset, own­ing 130,000 BTC. Appar­ent­ly, Say­lor likes round num­bers, buy­ing 301 BTC to reach the 130,000 milestone. 

Due to plung­ing price action, the company’s invest­ment is down sub­stan­tial­ly in U.S. dol­lar terms. MicroStrategy’s entry price is rough­ly $30,639 per BTC, and the Secu­ri­ties and Exchange Com­mis­sion fil­ing states that the firm has bought 130,000 BTC at an aggre­gate pur­chase price of approx­i­mate­ly $3.98 billion. 

If MicroS­trat­e­gy start­ed stack­ing sats (buy­ing Bit­coin) at today’s prices, it would have spent $2.48 bil­lion on 130,000 BTC. Say­lor is cur­rent­ly at a paper loss of over a bil­lion dollars.

Accord­ing to the SEC fil­ing, the com­pa­ny made the pur­chase with “excess cash.” Say­lor recent­ly stepped down as CEO of the com­pa­ny to focus on buy­ing more Bit­coin, while Wash­ing­ton, DC has tak­en aim at the bil­lion­aire in a tax eva­sion lawsuit. 

Bit­coin enthu­si­asts were quick to com­mend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s con­vic­tion and com­mit­ment to buy­ing Bit­coin despite the invest­ment being under­wa­ter has gar­nered both a devout fol­low­ing and numer­ous critics. 

Relat­ed: Bit­coin bet­ter than phys­i­cal prop­er­ty for reg­u­lar folks, says Michael Saylor

Oth­er large wal­let address­es include that of cryp­to exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wal­let that holds 125,000 BTC. Binance is the world’s largest cryp­to exchange and has sev­er­al wal­lets hold­ing six fig­ures of Bit­coin. Regard­ing indi­vid­u­als, Say­lor has stat­ed that he holds Bit­coin, and FTX CEO Sam Bankman-Fried and Binance CEO Chang­peng Zhao are also “hodlers” — a meme that became pop­u­lar jar­gon for hold­ing crypto. 



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *