June 27, 2022

MicroStrategy Added Nearly 9,000 BTC to Its Holdings During Q3

2 min read

The organization intelligence corporation – – MicroStrategy Incorporated – doubled down on its cryptocurrency undertakings throughout the 3rd quarter of 2021 by purchasing 8,957 BTC because period. Therefore, the company now holds around $7 billion worth of the primary digital property (calculated at today’s rates).

MicroStrategy: The Bitcoin Whale

MicroStrategy announced the lead to its Q3 revenues report. According to it, the firm gotten 8,957 BTC between July and October this year at an aggregate cost of $420 million, while the average cost per coin was $46,876.

MicroStrategy
< img class ="wp-image-148293"src= "https://cryptopotato.com/wp-content/uploads/2021/10/MicroStrategy2.jpg"alt ="MicroStrategy "width="830" height ="450"srcset="https://cryptopotato.com/wp-content/uploads/2021/10/MicroStrategy2.jpg 896w, https://cryptopotato.com/wp-content/uploads/2021/10/MicroStrategy2-300x163.jpg 300w, https://cryptopotato.com/wp-content/uploads/2021/10/MicroStrategy2-768x417.jpg 768w, https://cryptopotato.com/wp-content/uploads/2021/10/MicroStrategy2-50x27.jpg 50w" sizes="(max-width: 830px )100vw, 830px "/ > MicroStrategy Q3 results, Source: microstrategy.com As such, the whole stash reached 114,042 BTC.

Currently, the USD worth of the leading cryptocurrency stands at around $ 61,000, meaning that MicroStrategy’s holdings are worth a little over $ 7 billion. The software application company also announced that it had increased its BTC belongings by nearly 200% since the very same duration in 2020.

MicroStrategy
MicroStrategy Q3 results, Source: microstrategy.com The prominent bitcoin bull Michael – Saylor – Chief Executive Officer at MicroStrategy – – explained his company as the “world’s biggest publicly traded business owner” of the leading digital possession. He asserted that the company will keep its pro-BTC stance and get more tokens in the future:

“We will continue to evaluate opportunities to raise extra capital to execute on our bitcoin technique.”

In fact, “Acquire And Hold Bitcoin” is among the primary business objectives of MicroStrategy. More specifically: purchase BTC through the use of excess capital and debt and equity deals; hold the main cryptocurrency for the long-lasting; and provide management amongst the community.

No BTC Price Can Make Michael Saylor Sell

MicroStrategy’s leader is, by all means, among the biggest supporters of bitcoin. In a recent look, he asserted his support by saying that no force can make him offer any tokens, whether his individual ones or those coming from the business he runs.

As a true supporter of the possession, he opposed Peter Schiff. The latter, who is a well-known critic of the cryptocurrency industry, declared that BTC is a possession that “has an even higher potential to make you bad.” On the contrary, Saylor stated, “there is a much larger chance to become rich by buying bitcoin than purchasing gold.”

To show his point, MicroStrategy’s CEO included that people can create wealth if they invest in a “big tech dominant digital network that everybody needs, nobody understands, and nobody can stop.” It sounds like a proper description not just of bitcoin however also of Google, Amazon, Facebook, and Apple in their early days.