{"id":8557,"date":"2021-06-21T15:54:26","date_gmt":"2021-06-21T15:54:26","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/microstrategy-buys-489m-worth-of-bitcoin-company-now-holds-more-than-100000-btc\/"},"modified":"2021-06-21T15:54:26","modified_gmt":"2021-06-21T15:54:26","slug":"microstrategy-buys-489m-worth-of-bitcoin-company-now-holds-more-than-100000-btc","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/microstrategy-buys-489m-worth-of-bitcoin-company-now-holds-more-than-100000-btc\/","title":{"rendered":"Microstrategy Buys $489M Worth of Bitcoin \u2014 Company Now Holds More Than 100,000 BTC"},"content":{"rendered":"

The independent, publicly-traded business intelligence company Microstrategy announced the acquisition of 13,005 bitcoin on Monday, at a purchase price of approximately $489 million in cash. The company\u2019s CEO Michael Saylor revealed the latest purchase on Twitter, and the firm now has more than 100,000 bitcoins on its balance sheet.<\/strong><\/p>\n

Microstrategy Now Holds 105,085 Bitcoin<\/h2>\n

Michael Saylor\u2019s firm Microstrategy now has approximately 105,085 bitcoins which it bought for around $2.741 billion. Using the purchasing average, the company says<\/a> it purchased all the BTC<\/a> at around \u201c$26,080 per bitcoin, inclusive of fees and expenses.\u201d<\/p>\n

As usual, Microstrategy CEO Michael Saylor tweeted<\/a> about the purchase telling his 1.2 million Twitter followers. \u201cAs of 6\/21\/21 we #hodl ~105,085,\u201d Saylor noted on Monday morning.<\/p>\n

Not everyone was impressed with Microstrategy\u2019s bitcoin buy announcement and a few people like Peter Schiff made snide comments. \u201cThat\u2019s pretty bearish that you already bought all that bitcoin and the price kept dropping anyway,\u201d Schiff replied<\/a> to Saylor\u2019s tweet on Monday.<\/p>\n

\u201cConsider where the price of bitcoin would be today if Elon Musk, Michael Saylor, Barry Silbert, and all the other bitcoin elites and their friends in the financial media hadn\u2019t spent the last six months convincing retail and institutional investors to buy their worthless tokens,\u201d Schiff said<\/a> the day prior, as bitcoin\u2019s price began plummeting.<\/p>\n

Northman Trader<\/a>\u2019s Sven Henrich also responded<\/a> to Saylor\u2019s announcement. \u201cUnderstand the conviction. Question though: As the price average and employed leverage have both been rising what\u2019s the risk profile\/consequence if bitcoin were to drop below the average holding price?\u201d Henrich asked the Microstrategy CEO.<\/p>\n

When someone asked Henrich if Saylor\u2019s choice turned out to be a good bet the Northman Trader further commented<\/a>. \u201cNot saying he\u2019s wrong,\u201d Henrich replied. \u201cJust asking what the risk profile is if [the] price drops below the average holding price.\u201d<\/p>\n

<\/p>\n

Price Keeps Dipping Lower Than Microstrategy\u2019s Purchase Following PBOC\u2019s Latest Crypto Notice<\/h2>\n

Microstrategy\u2019s purchase of 13,005 BTC<\/a> follows recent news stemming from China\u2019s central bank. On June 21, 2021, the People\u2019s Bank of China (PBOC) issued a notice<\/a> to a number of financial institutions concerning crypto transactions.<\/p>\n

Since then, BTC<\/a> has dropped 4% in 24 hours and rests just above the $32K handle. In other words, the price has actually dipped below the price Microstrategy paid per coin for this most recent BTC<\/a> acquisition.<\/p>\n

Other bitcoin proponents also responded to Saylor\u2019s tweet. \u201cTime to deploy the next billion,\u201d software developer Jameson Lopp tweeted<\/a>. An individual commented on Lopp\u2019s statement and jokingly said<\/a>: \u201cFixed it: Time to deploy the next borrowed billion.\u201d<\/p>\n

\u201cUnfortunately, contrary to popular belief one just can\u2019t keep infinitely buying the dip,\u201d an individual said<\/a> to the many enthusiasts telling the Microstrategy CEO to \u201ckeep buying the dip.\u201d<\/p>\n

What do you think about Microstrategy buying 13,005 bitcoin and aggregating a total of more than 100K bitcoin? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nNews, Bitcoin (BTC), bitcoin buy, Bitcoin Microstrategy, bitcoin prices, bitcoin purchase, BTC, michael saylor, microstrategy, Microstrategy BTC purchase, microstrategy ceo, Northman Trader, Peter Schiff, Sven Henrich<\/p>\n","protected":false},"excerpt":{"rendered":"

The independent, publicly-traded business intelligence company Microstrategy announced the acquisition of 13,005 bitcoin on Monday, at a purchase price of approximately $489 million in cash. The company\u2019s CEO Michael Saylor revealed the latest purchase on Twitter, and the firm now has more than 100,000 bitcoins on its balance sheet. Microstrategy Now Holds 105,085 Bitcoin Michael…<\/p>\n","protected":false},"author":0,"featured_media":8558,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8557"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8557"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8558"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}