MicroStrategy keeps buying Bitcoin. Shown its unwavering commitment to the leading ctyprocurrency, Michael Saylor's company recently acquired a whopping 11,931 BTC at a cost of $786 million.
The purchase was carried out between April 27 and June 19, 2024. The Bitcoin were bought at an average price of $65,883 per coin.
As of June 20, 2024, MicroStrategy, led by a prominent crypto bull Michael Saylor, holds an impressive total of 226,331 bitcoins. MicroStrategy remains the largest public Bitcoin holder, owning 1% of BTC's total supply.
The average purchase price per bitcoin stands at $36,798, including fees and expenses. That puts Saylor in green with rather impressive profit margins. Even at the current price levels, not to mention any surge to $100,000 or above that.
Saylor has recently predicted that Bitcoin will cost $8 million per coin someday. He also outlined his personal 21 rules of HODLing Bitcoin.
With its latest acquisition, MicroStrategy continues to blaze a trail in the adoption of digital assets. It remains to be seen how this bold strategy will play out in the long run.
But one thing is certain: MicroStrategy's faith in Bitcoin shows no signs of wavering.
Michael Saylor, the charismatic co-founder and CEO of MicroStrategy, is a visionary entrepreneur, often compared with the likes of Steve Jobs and Elon Musk.
Saylor's credo is simple, yet powerful. He believes that Bitcoin is the future of money. He hopes Bitcoin will revolutionize the global financial system.
He once stated, "Bitcoin is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don't have the option or desire to run their own hedge fund."
Another memorable quote from Saylor is, "I think that Bitcoin is the most important invention of the human race since the invention of fire."