The latest market data revealed that MicroStrategy bought 8,957 BTC between July and October 2021 at an average price of $46,876 per coin. The business intelligence corporation doubled down on its crypto endeavors in Q3 2021 by acquiring these coins. Today, MicroStrategy Incorporated has nearly $7 billion worth of the biggest crypto.
With such an amount in their possession, MicroStrategy is considered to be a Bitcoin whale. In its earnings report: the company bought the coins at an aggregate cost of $420 million.
In that context, it brings the whole stash of the company to 114,042 BTC. For now, the US dollar value of the leading crypto stands at around $61,000. This means that MicroStrategy’s holdings are worth a bit more than $7 billion.
The software company also said that it had increased its bitcoin possessions by nearly 200% since the same period last year.
The Chief Executive Officer at MicroStrategy, Michael Saylor is a prominent bitcoin bull. He described his company as the:
“world’s largest publicly traded corporate owner of the leading digital asset.”
He also promised that the organization will maintain its pro-BTC stance and buy more coins in the future:
“We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy.”
Notably, “Acquire And Hold Bitcoin” is one of the major corporate targets for MicroStrategy. Particularly:
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“Purchase BTC through the use of excess cash flows and debt and equity transactions; hold the primary cryptocurrency for the long-term, and provide leadership among the community.”
No Bitcoin Price Will Make MicroStrategy Sell
Michael Saylor is one of the biggest Bitcoin proponents in the world. In a recent interview, he reiterated his support by stating that no force will make him sell any tokens. He will not bow to any person or company pressure to sell his bitcoins.
Being a true advocate of the asset, he opposed Peter Schiff. Schiff is a well-known critic of the crypto sector. He said that Bitcoin is just an asset that “has an even greater potential to make you poor.” Saylor refuted these allegations by saying:
“there is a much bigger chance to become rich by buying bitcoin than buying gold.”
To prove the point, MicroStrategy’s CEO insisted that people may generate wealth in case they invest in a:
“big tech dominant digital network that everybody needs, nobody understands, and nobody can stop.”
That appears to be the appropriate description of Bitcoin, Amazon, Google, Apple, and Facebook in their early days.