Since its first big-money bitcoin purchase in August 2020, MicroStrategy has gone on a Bitcoin buying spree. The intelligence software firm has now become the biggest buyer of Bitcoin. 

Following a recently announced purchase of  7,002 BTCs at a total price of $414.4 million between November 1 and November 29, MicroStrategy now holds the most Bitcoins, 121,044 BTCs, worth approximately $7 billion.

Bitcoin Magazine has announced that MicroStrategy’s recent purchase means the firm, led by long-time Bitcoin evangelist, Michael Saylor, has now purchased the equivalent of 28% of all #Bitcoin created since its first $BTC purchase in 2020. The magazine tweeted;

Here is a breakdown of MicroStrategy’s most significant Bitcoin purchases;

August 11, 2020: first bitcoin purchase worth $250 million – at the time September 14, 2020: Buys 16,796 BTC at an aggregate purchase price of $175 million after adopting a new treasury reserve policy December 21, 2020: buys $650 million worth of Bitcoin at the end of its  senior convertible notes offering February 24, 2021: an additional $1 billion worth of Bitcoin after an equivalent debt raise and Tesla $1.5 billion purchase November 30: Announces a $414.4 million between November 1 and November 29

MicroStrategy now holds 121,044 bitcoins, worth approximately $7 billion. Interestingly, while Bitcoin trades above $56k, MicroStrategy spent roughly $3.6 billion to acquire their entire bitcoin holdings ( an average purchase price of approximately $29,534 per BTC).

On The Flipside

Investors have raised concerns about MicroStrategy’s accumulation of Bitcoin, that it could lead to a major debt if Bitcoin plunges hard 

Why You Should Care?

Institutional investors big bets on Bitcoin affirm their beliefs on Bitcoin’s continual existence and improved performance

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