Michael Saylor’s MicroStrategy company has once again made a huge BTC purchase. This time, the company’s portfolio has increased by 3,907 new Bitcoins, at an approximate cost of $177,000,000.
The news of the BTC increase appeared on Saylora’s profile, which also revealed the current state of the BTC portfolio owned by MicroStrategy.
MicroStrategy already has almost 109,000 bitcoin
Currently, the company has as much as 108,992 Bitcoin, which at the current exchange rate ($48,096) comes to $5,242,079,232. Thanks to price averaging, a few percent drops won’t deprive MicroStrategy of profit. The average price at which the company bought its Bitcoins is $26,769.
“MicroStrategy has purchased an additional 3,907 bitcoins for ~$177 million in cash at an average price of ~$45,294 per #bitcoin. As of 8/23/21 we #hodl ~108,992 bitcoins acquired for ~$2.918 billion at an average price of ~$26,769 per bitcoin. $MSTR”
The company also revealed how, despite its regular purchases, which we have written about on BitHub many times:
It manages to fund further investments: the money comes from the sale of Class A common stock.
The largest player in the BTC market of all companies
With 108,992 Bitcoin holdings, MicroStrategy is the biggest player out of all the companies that publicly admit to buying cryptocurrencies. Tesla remains in second place with 48,000 BTC, and Galaxy Digital Holdings rounds out the podium with 16,402 BTC.
MicroStrategy is still sticking to its strategy, which is to not use the bitcoin it buys to make money (for example, on loans). Instead, it is still betting on “buy and hold”. Additionally, Bitcoin remains the only cryptocurrency that Michael Saylor is interested in. In this respect, his approach to cryptocurrencies resembles the one Jack Dorsey is famous for(Jack Dorsey is still not interested in ethereum).