MicroStrategy Bets Another $1B on Bitcoin

Watch what big and smart money is doing, not what the press is pushing – Saylor and MS are buying as much Bitcoin as they can – and they’re not “waiting for it to drop back down to $10K”.  The average person is just that – average. Don’t be average.

MicroStrategy Bets Another $1B on Bitcoin

“MicroStrategy announced the purchase of another $1.026 billion in bitcoin Wednesday, turning mountains of zero-interest debt into one of the single largest (dollar-denominated) bitcoin investments ever executed by a publicly traded company.

CEO Michael Saylor’s business intelligence firm bought the 19,452 BTC at an average price of $52,765 per coin. It now holds 90,531 BTC (+3.81%) worth $4.78 billion at press time, almost certainly bolstering its perception among Wall Street types as a de-facto bitcoin exchange-traded fund, albeit one wildly overpriced.

The latest buy, MicroStrategy’s single-largest dollar investment in the crypto, is second only to Tesla’s $1.5 billion investment on the list of (known) bitcoin allocations by a U.S. company. MicroStrategy was already and will likely remain the non-crypto firm with the biggest bitcoin bags as CEO Michael Saylor continues to pursue a coin acquisition strategy now codified in the business intelligence company’s mission.”

https://www.coindesk.com/microstrategy-buys-billion-dollars-bitcoin

 

Master Asked on February 24, 2021 in Bitcoin.
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