MicroStrategy Now Owns 0.62% of All BitcoinBTC), which will never be extracted. The company’s CEO Michael Saylor announced that the company bought another 301 BTC worth about $6 million at an average price of $19,851 per BTC.
In short, the company is one of the largest asset holders on the planet with 130,000 BTC. Saylor apparently likes round numbers, having bought 301 BTC to reach the 130,000 milestone.
MicroStrategy purchased an additional 301 bitcoins for ~6.0 million. USD for an average price of ~$19,851. #bitcoin. From 9/19/22 @MicroStrategy holds ~130,000 bitcoins purchased for ~3.98 billion USD and the average price is ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
– Michael Saylor⚡️ (@saylor) in 2022 September 20
MicroStrategy purchased an additional 301 bitcoins for ~6.0 million. USD and the average price is ~$19,851 per bitcoin. As of 09/19/2022, @MicroStrategy owns ~130,000 bitcoins, purchased for ~3.98 billion. USD and the average price is ~$30,639 per bitcoin.
Because of price dropthe company’s investments in US dollars decreased significantly. MicroStrategy’s entry price is approximately $30,639 per BTC, and the Securities and Exchange Commission filing says that the company purchased 130,000 BTC for a total of approximately $3.98 billion.
If MicroStrategy started accumulating sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion. USD 130,000 BTC. Saylor’s paper losses now total more than $1 billion.
The company made the purchase with “excess amounts of cash,” according to an SEC filing. Saylor recently stepped down as CEO The company will focus on buying more Bitcoin, and Washington DC has taken aim billionaire in tax evasion lawsuit.
Bitcoin enthusiasts quickly did to praise Saylor’s purchase. Known as “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has earned him both a devoted following and plenty of critics.
Other major wallet addresses include the cryptocurrency exchange Bitfinex, which to have 170,000 BTC and Binance Reserve wallet to have 125,000 BTC. Binance is the largest cryptocurrency exchange in the world and has several wallets that store six numbers of bitcoin. Speaking of people, Saylor has stated that he owns Bitcoin, while FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers,” a meme popularized as slang for cryptocurrency ownership.
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