CEO Michael Saylor Personally HODLs 17,732 BTC ($235M), While MicroStrategy Plans to Buy More

MicroStrategy had “one of its stronger quarters in years” — a quarter in which they invested in Bitcoin, its profit on which is currently around $100 million.

Today, MicroStrategy CEO Michael Saylor revealed that he owns 17,732 BTC, currently worth $235 million.

He purchased these BTC at an average price of $9,882 and reported his holdings to the company before the publicly listed MicroStrategy made any decision.

Meanwhile, the company is looking to increase its $521 million Bitcoin investment [purchased 21,454 in August & 16,796 in September] further, said the company President Phong Li during its earnings conference call on Tuesday.

This makes the perfect sense for the company, given that it benefited from a 22% return on its BTC investment. MicroStrategy actually benefited more from its Bitcoin bets in just two months than it did through its actual business in the last three years.

But this is not the only benefit the company got from making Bitcoin its primary treasury reserve asset. Besides offering “the possibility of greater return potential for investors than holding such balances in cash,” it also “increased the overall visibility of MicroStrategy in the market,” said Saylor.

It has also been noted that the company's bitcoin reserves are paying dividends across marketing, recruiting, and it's brand.

MicroStrategy’s share also increased by more than 40% since the company disclosed its bitcoin investment around mid-August.

While comparing the bitcoin network to “a digital monetary network that doesn’t bleed monetary energy,” a vocal bitcoin proponent, Saylor added,

“As more entities start to understand that idea, which is pretty compelling, the adoption of bitcoin increases.”

The company saw Bitcoin as one of the “alternatives” to hedge against the weakening dollar. During the Q3 earnings call, it framed bitcoin as an “example of MicroStrategy’s embrace of virtual technologies.”

Bitcoin (BTC) Live Price

1 BTC/USD =17,019.8691 change ~ 3.64

Coin Market Cap

315.82 Billion

24 Hour Volume

39.32 Billion

24 Hour Change

3.64

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,271FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today