$ 7 billion for MicroStrategy
MicroStratgy continues to acquire Bitcoin (BTC) over the months. The company added nearly 9,000 BTC to its holdings in the third quarter, bringing its total balance sheet to 114,042 BTC or the equivalent of $ 7 billion. Thus, the company owns around 0.60% of Bitcoin’s circulating supply.
According to MicroStrategy’s financial results, the company spent a total of $ 3.16 billion to acquire its bitcoins with an acquisition price of approximately $ 27,713 or a profit of $ 4.84 billion. MicroStrategy is the largest publicly traded company in the world to own BTC.
Listed companies holding Bitcoin – Source: Bitcoin Treasuries
As a reminder, MicroStrategy specializes in software publishing and has a market capitalization of $ 7 billion, which is as much as the value of its BTC reserves. Among MicroStrategy’s French clients, we can mention Danone, SFR, Monoprix and Galeries Lafayette.
CEO owns 17,732 BTC
MicroStategy’s BTC reserves were built up following a long series of investments by the company in Bitcoin, which began in August 2020. Micheal Saylor, CEO of MicroStrategy, has even become an industry figurehead. . He said:
“This investment reflects our belief that Bitcoin is a reliable store of value and an attractive asset with greater potential for long-term appreciation than holding cash. “
The CEO also revealed that he personally owns 17,732 bitcoins (around $ 1.08 billion at the current price) which he acquired at an average of $ 9,882 each. Michael Saylor added that he informed MicroStrategy of these holdings before the company decided to buy BTC on his behalf.
👉 To read on the same subject: Tesla has made a billion dollars thanks to Bitcoin (BTC)
About the author: Florent David
Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFTs).
All articles by Florent David.