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MicroStrategy Has Bought the Equivalent of 28% of All Bitcoin Since its First Purchase -Breaking

by Mike Robinson

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MicroStrategy Purchased the Equivalent to 28% Of All Bitcoins Since Its First Purchase

MicroStrategy’s first bitcoin-purchase in August 2020 has been a huge success. This intelligence software company is the most significant buyer of Bitcoin.

MicroStrategy, which recently bought 7,002 BTCs in a transaction valued at $414.4million between November 1st, and November 29th, now has 121,044 BTCs worth about $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. It tweeted:

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

  • August 11, 2020: first bitcoin purchase worth $250 million – at the time
  • After adopting an updated treasury reserve strategy, the September 14, 2020 purchase of 16,796 BTC results in an overall purchase price totaling $175,000,000
  • Dec 21, 2020: Purchases Bitcoin worth $650 Millionat the close of its senior convertible note offering
  • Feb 24, 2021: An additional $1 Billion in Bitcoin following an equal debt increase and Tesla (NASDAQ: ) Purchase $1.5 Billon
  • December 30th: Announcements 4114.4 millions betweenNovember 1, and November 29,

MicroStrategy holds now 121 044 bitcoins worth around $7 billion. MicroStrategy’s entire bitcoin portfolio was acquired for $3.6 billion. This is despite Bitcoin trading exceeding $56k.

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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