Too good to be true! The co-founder of MicroStrategy further increased his holdings by over 3,000 bitcoins, with the latest position nearing nearly $10 billion.
Enterprise software company MicroStrategy has recently increased its holdings by over 3,000 bitcoins, bringing the total value of its bitcoin holdings to around $9.88 billion. The company now holds approximately 193,000 bitcoins in total. Michael Saylor, the Chairman and Co-founder of MicroStrategy, stated that there is no reason to sell the bitcoins held. Since Saylor began purchasing, the price of bitcoin has risen by about 460%. The current price of bitcoin is around $51,379.
Zhitong App learned that the enterprise software company MicroStrategy (MSTR.US) will purchase Bitcoin as part of its corporate strategy. This month, the company purchased over 3,000 Bitcoins at a price of $155.4 million.
Based on the market price of the currency, this has increased the value of the company's Bitcoin holdings to approximately $9.88 billion. According to a document submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the company's most recent purchase was made in cash between February 15 and February 25. This brings the company's total Bitcoin holdings to around 193,000 coins.
It is understood that MicroStrategy's Chairman and Co-Founder Michael Saylor began buying Bitcoin in 2020 as a hedge against inflation and an alternative to holding cash. When asked in an interview last week when the company might sell its Bitcoin holdings, Saylor stated, "There is no reason to sell the winners." Since Saylor started buying, Bitcoin has risen by about 460%.
The document shows that Saylor's most recent purchase had an average price of $51,813, while the average price of the total holdings was $31,544. On Monday, the price of Bitcoin remained relatively stable at around $51,379.
Earlier this month, when the price of Bitcoin reached its highest point in over two years, the value of Saylor's Bitcoin holdings briefly surged to $10 billion.