MicroStrategy has seen its investment in Bitcoin double in value. This is what emerges when comparing the company’s official announcements with the current price of Bitcoin.
There have been several Bitcoin investments made by MicroStrategy, documented by the CEO Michael Saylor.
The first took place on September 14th, 2020, when the business intelligence firm announced it had a total of 38,250 bitcoin for a total investment of $425 million.
The most recent was dated December 21st. Bitcoin was worth just under $22,000 when the CEO announced that they had purchased over 29,600 bitcoin for around $650 million. In total, as of December 21st, MicroStrategy has purchased over 70,000 bitcoin at an average price of $15,694 each.
Bitcoin opened 2021 with a bang, hitting its all-time high at $34,600 yesterday. It is currently in a slight retracement, settling at $33,000. It’s easy to see from these numbers how MicroStrategy has effectively doubled the value of its bitcoin holdings.
MicroStrategy is pioneering institutional investments in Bitcoin
MicroStrategy has been among the early movers of institutional investment in Bitcoin. In fact, the company holds more than half of its assets in the cryptocurrency.
On December 21st, CEO Michael Saylor explained:
“The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value. We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price”.
Michael Saylor fan of Bitcoin
Michael Saylor himself seems to be a strong supporter of Bitcoin, as his Twitter profile shows.
While he is not one of those who engage in price predictions, his posts show that he strongly believes in the digital currency.
For example, on December 26th he tweeted:
“Cash is a refuge from risk, but there is a price to pay. Would you sacrifice 98% of your opportunity to avoid the uncertainty of tomorrow? Volatility is Vitality. Bitcoin is Hope”.
A few days later he posted a chart from Messari highlighting Bitcoin’s 2020 performance, which is far superior to that of any other asset:
#Bitcoin is the solution. Everything else is just noise. https://t.co/vddDVIKXtU
— Michael Saylor⚡️ (@saylor) December 31, 2020
Finally, today Michael Saylor is among those celebrating the cover of today’s edition of the Financial Times showing the rise in the price of Bitcoin:
On the 1st business day of 2021, #Bitcoin takes its rightful place atop the Financial Times.
“No force on earth can stop an idea whose time has come”― Victor Hugo https://t.co/hUqsy0IRjq
— Michael Saylor⚡️ (@saylor) January 3, 2021
His words are the following:
“On the 1st business day of 2021, Bitcoin takes its rightful place atop the Financial Times”.
He also adds a quote from writer Victor Hugo.
“No force on earth can stop an idea whose time has come”.
Bitcoin’s price performance seems to justify all his enthusiasm and hopes.
