MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s CEO, Michael Saylor, announced that the company bought another 301 BTC for around $6 million at an average price of $19,851 per BTC.
In short, the company is one of the largest holders of the asset on the planet, with 130,000 BTC. Saylor apparently likes round numbers, buying 301 BTC to hit the 130,000 milestone.
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. Ace of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
—Michael Saylor⚡️ (@saylor) September 20, 2022
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per bitcoin. As of 9/19/22 @MicroStrategy owns ~130,000 bitcoins purchased for ~$3.98 billion at an average price of ~$30,639 per bitcoin.
Due to falling prices, the company’s investment has dropped considerably in US dollar terms. MicroStrategy’s entry price is approximately $30,639 per BTC, and the Securities Commission filing states that the company has purchased 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor currently has a paper loss of more than $1 billion.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington DC has targeted the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to to praise Saylor’s purchase. Known as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the fact that the investment is underwater has garnered both a devoted following and numerous critics.
Other big wallet addresses include cryptocurrency exchange Bitfinex, which has 170,000 BTC, and a Binance reserve wallet that has 125,000 BTC.. Binance is the largest cryptocurrency exchange in the world and has several wallets that hold six figures of Bitcoin. As for people, Saylor has stated that he has Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers,” a meme that became popular slang to refer to to the possession of cryptocurrencies.
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