MicroStrategy, the business intelligence and software company, has completed its first year with bitcoin. Led by Michael Saylor, it was the first Nasdaq-listed company to integrate BTC as a primary reserve.
Its first publicly disclosed purchase was of 21,454 BTC for a total of about $250 million, which occurred when bitcoin was worth less than $10,000.
Analyst Willy Woo commented as follows:
One year ago today, Microstrategy announced its first purchase of BTC. Since then it has bought a total of 14 times, an average of once every 3.7 weeks #stackingsats.
0.56% of the total #Bitcoin supply sits inside its treasury.
— Willy Woo (@woonomic) August 11, 2021
“One year ago today, Microstrategy announced its first purchase of BTC. Since then it has bought a total of 14 times, an average of once every 3.7 weeks. 0.56% of the total #Bitcoin supply sits inside its treasury”.
It is a strategy of accumulation on the part of the business intelligence company, which already saw half of its assets in bitcoin in the month following its declaration.
In fact, it was Saylor himself who stated at the time that his intention was to hold bitcoin over the long term as a store of value, counting on a possible increase in value over time, unlike US dollars whose real value over the years could decline.
And so it happened! The ATH – All Time High of over $60,000 reached by the price of BTC in April 2021 and the subsequent collapse also due to China’s enforced ban on the sector were all events that happened during a year that started with the idea of accumulation, and has reached the present day.
MicroStrategy, Bitcoin and Michael Saylor: today more than yesterday
In a tweet pinned to the top of the account of Saylor, Co-founder of MicroStrategy, is one of his thoughts on Bitcoin, expressed last September 2020.
#Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.
— Michael Saylor⚡️ (@saylor) September 18, 2020
“Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy”.
Along these lines, MicroStrategy’s shares can also be said to have to some extent followed the price trend of BTC to date.
At the end of July 2021, MSTR shares had closed at $682, just as BTC had broken through the $40,000 resistance. A level that MicroStrategy had not seen since 28 April 2021, a few days after BTC’s ATH.
Also on that date, Saylor announced that he intended to add more bitcoin to his 105,000 BTC already in his possession. All of this suggests that MicroStrategy’s future intention is to continue accumulating the queen of cryptocurrencies.
