US tech company MicroStrategy continues to buy bitcoin (BTC). Michael Saylor’s company now has $765 million in BTC in cash. BTC is a better form of money than the dollar, according to Saylor and his associates.
MicroStrategy is listed on the stock exchange, which means that the purchases will come out in due course. Saylor confirms the purchase of 2,574 bitcoin on Twitter.
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MicroStrategy previously bought over 38,000 Bitcoin in two instances. In August, the company swapped $250 million for 21,454 BTC. In September, the company added another 16,796 BTC.
With those first two purchases the Americans are in the plus, on average the purchase price was $11,111 for the above mentioned bitcoin. The price is currently around $19,000, and that profit tastes like more.
The listed company now owns a total of 40,824 bitcoin worth about $765 million. With an investment of $475 million that is a nice profit.
Note: MicroStrategy currently owns more than 5% of all bitcoin that will ever exist, the maximum BTC is 21 million.
MicroStrategy has deep pockets compared to the average company or individual, but secretly they are relatively late. The price is almost Bitcoin Superstar at a peak, almost all bitcoiners that became convinced earlier are better off in terms of entry price.
Bitcoin and companies
23 Companies now own over $16 billion worth of Bitcoin. Volunteers keep a list on Bitcoin Treasuries. MicroStrategy has the most BTC of the listed companies on the list.
Another major player that is busy absorbing bitcoin is Grayscale. They have a bitcoin fund in which you can buy a share. With the money Grayscale buys bitcoin: Grayscale buys another 7,000 Bitcoin (BTC), whales send money to stock exchanges.
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