“MicroStrategy” is one of the prominent companies that started the institutional appetite for buying Bitcoin.

in document published Yesterday, December 4, the SEC reported that MicroStrategy had paid another $50 million to increase its bitcoin reserves.

The company reported paying approximately $19,427 per coin, meaning that it bought a total of 2,574 Bitcoin at $50 million.

MicroStrategy and Bitcoin:

It takes a lot of courage to get such a large amount of coins at a price very close to Bitcoin’s peak.

After this purchase, MicroStrategy will own approximately 40,824 bitcoins, totaling nearly half a billion dollars in cryptocurrency.

MicroStrategy initially bought bitcoin in August 2020.

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At the time, the company announced the purchase of 21,454 bitcoins worth $250 million.

Then, in a second purchase, the company bought 21,454 bitcoins worth $250 million in mid-September.

Whoever thinks this was a bad idea from MicroStrategy is wrong and should consider the company’s stock performance.

After the company announced the bitcoin purchase, the company’s valuation increased from an average of $120 per share to more than $360 a few days ago.

Currently, MicroStrategy’s stock is around $328.

In this way, “MicroStrategy” publicly declares itself as one of the companies investing in cryptocurrency, which is in its favor in all respects.

On the one hand, its stock rose on the stock exchanges, and on the other hand, the value of its investments increased thanks to its purchase of bitcoin at a time before bitcoin reached its peak.

MicroStrategy owns more than twice as much bitcoin as its nearest competitor, Galaxy Holdings, which owns 16,651 bitcoins.

It also has 10 times more BTC than Square, which ranks third on the list with 4,709 BTC.

Michael Saylor and the Crypto Community:

Michael Saylor, CEO of MicroStrategy, confirmed on Twitter the news that his company is buying Bitcoin again for $50 million:

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MicroStrategy has purchased approximately 2,574 bitcoins for $50.0 million in cash under the Treasury Reserve Policy, at an average price of approximately $19,427 per bitcoin. We now have approximately 40,824 bitcoins.

– Michael Saylor (@michael_saylor) December 4, 2020

With this new investment of $50 million, it is clear that the company would like to generate more investment returns.

But his company is not only buying bitcoin, as it is also trying to participate in the growth of the blockchain through investments and technical work that focus on the company’s specialty.

At the end of last October, MicroStrategy installed its first Bitcoin node.

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Saylor has become one of the well-known names in the crypto community thanks to his optimistic statements and his full support for Bitcoin.

We mentioned earlier on the Arab Bitcoin that “Sailor” revealed his personal wealth of Bitcoin, which was estimated at 17,732 Bitcoin, which he bought for less than $10,000 per unit.

If one takes into account Saylor’s reported average purchase price of $9,982 per bitcoin, his $175 million investment can currently be valued at $334 million.

It is a successful investment and makes Saylor talk day and night on Bitcoin on Twitter.

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