MicroStrategy’s appetite for Bitcoin is an ever rising phenomenon, 660 Bitcoins added to its treasury

Synopsis

“MicroStrategy has taken its Bitcoin accumulation spree to another level as the NASDAQ listed company keeps on accumulating Bitcoin on every market dip. It recently added 660 Bitcoin to its Treasury at an average price of $37,865 taking its Bitcoin holding to 125,051 Bitcoins.”

Microstrategy has purchased an additional 660 Bitcoins

Michael Saylor, The CEO of MicroStrategy on Tuesday tweeted “Microstrategy has purchased an additional 660 Bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per Bitcoin. As of 1/31/22 we hodl ~125,051 Bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per Bitcoin”. MicroStrategy bought these additional 660 Bitcoins during a time frame of 1 month starting from December 30, 2021 and ending on January 31, 2022 as filed by the company at US Securities and Exchange Commission (SEC). 

Last week in an interview, the chief financial officer of MicroStrategy, Phong Le said “Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows or we find other ways to raise money, we continue to put it into bitcoin”. The statement gives a clear indication that the company will be holding Bitcoin for the long term and will be buying along the way as the analysts from the company have many a times predicted that price of Bitcoin will reach $1 Million by the end of 2030 which would be a staggering 20x gain and would take the current investment of $3.78 Billion to around $100 Billion.

MicroStrategy has been the number one corporate accumulator of Bitcoin second to none other than the pseudo anonymous developer of Bitcoin Satoshi Nakamoto who is considered to be holding around 1.1 Million BTC. MicroStrategy has 2.5x more times the Bitcoin of its nearest competitor Tesla making it the leading Bitcoin hungry enterprise.