Michael Saylor Bitcoin (holdings, purchase) Latest News: The world’s largest 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 says , Michael Saylor, in his recent shareholder letter dated April 14, 2022. The value of each of these crypto assets as of today (April 15, 2022) is approximately $40,000.
Saylor’s MicroStrategy is one of the few publicly traded companies in the world to have invested in Bitcoin. These include Tesla and Elon Musk’s Block.
“As of April 14, 2022, MicroStrategy remains the largest publicly traded bitcoin holding company. 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 CEO of MicroStrategy also said that the company’s bitcoin strategy has been a huge success. “In addition to our long-standing corporate strategy to grow our business analytics software business, our parallel strategy of acquiring and holding bitcoin has been a huge success,” he said. .
Rs 10,000 crore profit!
The price of Bitcoin at the time of writing this report on Friday was $40,001, about $10,000 above the average price paid by MicroStrategy to buy each of its Bitcoin holdings. Even considering today’s price for the calculation, MicroStrategy has already made a profit of $10,000 × 1 29 218 = 1 29 21 80 000 $. According to the current rate of the dollar against the INR, this amount in Indian currency would be equivalent to approx. Rs 98,58,55,80,920 (or around Rs 10,000 crore!)
Later in the letter, Saylor said MicroStrategy would continue to publicize its bitcoin strategy. “Over 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 continued its strategy of acquiring Bitcoin using proceeds from debt and equity transactions, as well as excess cash flow from operations. “We believe 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 result in losses. Please consult a professional financial advisor before making any crypto investment decisions)