Michael Saylor Bitcoin (Holdings, Purchase) Latest News: World’s biggest Bitcoin (BTC) holder MicroStrategy paid an average price of around $30,700 each to buy 129,218 tokens of the most popular crypto asset, the company’s CEO and Chairman Michael Saylor said in his recent letter to stockholders dated April 14, 2022. The value of each of these crypto assets as of today (April 15,2022) is around $40,000.
Saylor’s MicroStrategy is one of the few publicly traded companies globally that have invested in Bitcoin. These include Elon Musk’s Tesla and Block.
“As of April 14, 2022, MicroStrategy remains the largest publicly-traded corporate holder of bitcoin. MicroStrategy, together with its subsidiaries, holds 129,218 bitcoins acquired at an aggregate purchase price of $3.97 billion and an average purchase price per bitcoin of approximately $30,700,” Saylor said.
The MicroStrategy CEO also said that the company’s Bitcoin strategy has been a tremendous success. “In addition to our long-standing corporate strategy to grow our enterprise analytics software business, our parallel strategy to acquire and hold bitcoin has been a tremendous success,” he said.
Rs 10,000 crore profit!
Bitcoin price at the time of writing this report on Friday was $40,001, which is around $10,000 above the average price MicroStrategy paid to buy each of its Bitcoin holdings. Taking even today’s price into consideration for calculation, MicroStrategy has already made a profit of $10000×1,29,218 = $1,29,21,80,000. As per today’s dollar to INR rate, this amount in Indian currency would be equivalent to approximately. Rs 98,58,55,80,920 (or around Rs 10,000 crore!)
Further in the letter, Saylor said MicroStrategy would continue to increase awareness of its bitcoin strategy. “In the coming year, we will continue to focus on key priorities to empower customers with cloud-based analytics and embedded analytics, and increase awareness of our bitcoin strategy, he said.
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According to Saylor’s letter, MicroStrategy had in 2021 furthered its strategy of acquiring Bitcoin using the proceeds of debt and equity transactions, as well as through excess cash flow from operations. “We believe that our bitcoin strategy is complementary to our analytics software and services business, as it enhances brand awareness and provides opportunities to grow our enterprise customer base,” he said.
(Cryptos, including Bitcoin, and other virtual digital assets are unregulated assets in India. Investing in them could lead to losses. Please consult a professional financial advisor before making any investment decision in crypto)
