Michael Saylor, CEO of MicroStrategy, has been promoting Bitcoin relentlessly and on every occasion. The head of the Nasdaq-listed business intelligence firm is not just an active promoter of Bitcoin. It has also continued to invest in digital currency for a year now.
Here's Saylor's purchase history in brief: MicroStrategy acquired a total of 91.064 BTC at press time. The company's journey into the Bitcoin industry began with the purchase of $ 250 million in digital currency in August 2020. At the time, the move proved to be one of the largest Bitcoin acquisitions ever made by a publicly traded company. .
Just a month later, on September 14, 2020, the company's board of directors moved to make Bitcoin its main reserve asset. This was followed by another $ 175 million purchase. MicroStrategy finally closed 2020 with a $ 650 million acquisition, bringing the value of its total Bitcoin acquisitions in 2020 to over $ 1 billion.
But in 2021 the trend was the same
Despite spending over $ 1 billion on Bitcoin, the company was still hungry for digital currency. There were several minor acquisitions in 2021. However, the company took another giant leap on February 24, 2021, announcing a further $ 1,02 billion purchase in Bitcoin.
To put the record straight, since the first purchase in August 2020, the price of the digital asset has more than quadrupled from around $ 11.300 to over $ 50.000. Many other institutional players have also joined the scene, including PayPal, MassMutual and Tesla (Tesla shares - TSLA ticker).
MicroStrategy's most recent Bitcoin purchase was made on Friday, March 5. Saylor announced that the company acquired another $ 10 million in Bitcoin, four days after announcing a previous $ 15 million purchase. An excerpt from the company's March 5 filing with the U.S. Securities and Exchange Commission states that:
On March 5, 2021, MicroStrategy announced that it had purchased approximately 205 bitcoins worth $ 10,0 million, at an average price of approximately $ 48.888 per bitcoin, inclusive of fees and commissions.
A wallet full of bitcoins
To date, MicroStrategy has acquired approximately 91.064 Bitcoins for a total investment of $ 2,196 billion. Interestingly, the average purchase price is around $ 24.119 per Bitcoin. This means that with Bitcoin at over $ 50.000, MicroStrategy made over 100% profit in seven months.
Thanks to its numerous Bitcoin purchases, MicroStrategy currently has the largest Bitcoin wallet among other publicly traded companies. As reported by BTC PEERS, Saylor had previously stated that Bitcoin appears to be more promising than gold. In addition, it predicts that the market capitalization of the world's leading cryptocurrency could exceed $ 100 trillion.
