Microstrategy, the world leader in analytics and mobility software, has now acquired a cryptocurrency asset by taking advantage of BTCs staging a 10% fall-off, making it worth approximately $4.5billion. According to the filing made by Security and Exchange Commission SEC, the firm added 328 more bitcoins over the weekend at an average price of $45,710. This is the fourth time the firm is making an investment in Bitcoin. In less than a year, the software firm has turned itself into a de-facto Bitcoin ETF.
MicroStrategy’s total Cryptocurrency Assets worth in BTCs
In the latest, Microstrategy has purchased 328 Bitcoins, investing the worth of $15 million, past weekend. This is not the first time, MicroStrategy is investing this much into the crypto-space. CEO Michael Saylor’s business firm has bought 19,452 BTC, turning it into the single largest Bitcoin investment ever performed by a publicly-traded company.
The largest buy is second only to Tesla’s $1.5 billion investment. MicroStrategy is already and most likely to remain the non-crypto firm with the biggest crypto bags. The total stake of MicroStrategy in Bitcoin is now $4.5billion owning 90,859 BTC overall at the average price of $24,063.
MicroStrategy timeline of Bitcoin acquisition
It is not the first time the firm is making such investments. The firm has started making investments in BTC a year back. Here is the timeline of investment made by MicroStrategy from the time they started.
- 11 August 2020: First Bitcoin purchase worth $250 million
- 14 September 2020: Made Bitcoin the company’s primary treasury reserve asset. Also made the purchase of 16,796 BTCs worth $175 million as announced.
- 21 December 2021: The Bitcoin acquisition of $1 billion investing another $650 million investment.
- 24 February 2021: Following Tesla’s $1.5 billion investment in BTC, the firm bought another $1 billion worth of cryptocurrency.
“Bitcoin is going to flip gold,” said Michael Saylor adding that it will “subsume the entire gold market cap. Once it gets to $10 trillion, its volatility will be dramatically less. As it marches toward $100 trillion, you’re going to see the growth rates fall, the volatility fall, and it’s going to be a stabilizing influence in the entire financial system of the 21st century.”