Michael Saylor’s MicroStrategy Continues to Double Down on Bitcoin
Michael Saylor, the CEO of business intelligence firm MicroStrategy, has once again made headlines by investing heavily in Bitcoin. According to a recent filing with the US Securities and Exchange Commission (SEC), the company purchased an additional 6,911 Bitcoin (BTC) for over $584 million between March 17 and March 23. This latest acquisition brings MicroStrategy’s total Bitcoin holdings to over 500,000 coins.
March 2022 Bitcoin Purchase Details
The purchase was made at an average price of $84,529 per coin. This brings MicroStrategy’s total investment in Bitcoin to roughly $33.7 billion, with an average purchase price of approximately $66,608 per Bitcoin, inclusive of fees and expenses.
Previous Bitcoin Acquisitions
It’s important to note that this is not the first time MicroStrategy has invested in Bitcoin. In August 2020, the company announced it had purchased 21,454 Bitcoin for $250 million, followed by another purchase of 5,050 Bitcoin for $250 million in December 2020. In February 2021, the company bought 301 Bitcoin for $10.0 million.
Institutional Interest in Bitcoin
MicroStrategy’s latest Bitcoin acquisition comes at a time when institutional interest in Bitcoin is on the rise. According to a report by CoinShares, institutional investors poured $1.3 billion into Bitcoin-linked investment products in the week ending March 19, 2022. This is the largest weekly inflow since January 2021.
Impact on Individuals
For individual investors, MicroStrategy’s continued investment in Bitcoin is a strong signal that the cryptocurrency is gaining acceptance in the traditional financial world. As more institutional investors enter the market, it’s likely that Bitcoin’s price will continue to rise, making it an increasingly attractive investment for individuals as well.
Impact on the World
On a larger scale, MicroStrategy’s investment in Bitcoin is a sign of the growing recognition of digital currencies as a legitimate asset class. As more companies and institutions follow suit, we can expect to see a shift in the global financial landscape. Bitcoin’s decentralized nature and limited supply make it an attractive alternative to traditional fiat currencies, particularly in times of economic uncertainty.
Conclusion
Michael Saylor’s MicroStrategy has once again made headlines by investing over $584 million in Bitcoin, bringing its total holdings to over 500,000 coins. This latest acquisition comes at a time when institutional interest in Bitcoin is on the rise, and the cryptocurrency is gaining acceptance in the traditional financial world. For individual investors, this is a strong signal that Bitcoin is an attractive investment opportunity. On a larger scale, MicroStrategy’s investment is a sign of the growing recognition of digital currencies as a legitimate asset class, and a potential shift in the global financial landscape.
- MicroStrategy purchased 6,911 Bitcoin for over $584 million between March 17 and March 23
- Company now holds over 500,000 Bitcoin, with a total investment of roughly $33.7 billion
- Institutional interest in Bitcoin is on the rise, with $1.3 billion in weekly inflows
- MicroStrategy’s investment is a strong signal for individual investors
- Recognition of digital currencies as a legitimate asset class, potential shift in global financial landscape
