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Home Crypto News Market Michael Saylor Announced That Microstrategy Has Purchased An Additional 3,907 Bitcoins For...

Michael Saylor Announced That Microstrategy Has Purchased An Additional 3,907 Bitcoins For $177 Million In Cash

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Michael Saylor announced that MicroStrategy has purchased an additional 3,907 bitcoins for $177 million in cash. 


Michael Saylor said:

“MicroStrategy has purchased an additional 3,907 bitcoins for $177 million in cash at an average price of $45,294 per bitcoin. As of 8/23/21 we hold 108,992 bitcoins acquired for $2.918 billion at an average price of $26,769 per bitcoin.”

 

Previously MicroStrategy announced that it had purchased 253 Bitcoins worth $15 million. The company’s balance sheet had 91,579 Bitcoins as of April 5th.

The company first announced its cryptocurrency investments in August 2020, has since purchased 91,579 Bitcoins in total with an average purchase price of $24,311, spending a total of $5 billion 311 million on BTC.

With recent BTC purchase As of 8/23/21 Microstrategy holds 108,992 bitcoins worth $2.918 billion at an average price of $26,769 per bitcoin.




Previously In an interview with CNBC MicroStrategy CEO, Michael Saylor defended $2.2 billion debt-financed bitcoin buys.

He told CNBC that he sees buying BTC right now as comparable to investing in Facebook in the social network’s early days.

He said:

“We’ve got $2.2 billion of debt and we pay about 1.5% interest, and we have a very long time horizon,” Saylor said on “Squawk on the Street.” “Our point of view is being a leveraged, bitcoin-long company is a good thing for our shareholders.

If you borrow billions of dollars at 1% interest and invest it in the next Big Tech digital network that you thought was going to be the dominant Amazon or Google or Facebook of money, why wouldn’t you?” Saylor said. “I mean, if I could borrow $1 billion and buy Facebook a decade ago for 1% interest, I think I would’ve done quite well.”

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Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master degree in Business Administration, and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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