MicroStrategy Has Bought the Equivalent of 28% of All Bitcoin Since its First Purchase
DailyCoin
Published Dec 01, 2021 07:55AM ET
MicroStrategy Has Bought the Equivalent of 28% of All Bitcoin Since its First Purchase
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;
MicroStrategy has purchased the equivalent of 28% of all #Bitcoin created since its first $BTC buy pic.twitter.com/ZQtmHuX0qe— Bitcoin Magazine (@BitcoinMagazine) December 1, 2021
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 (NASDAQ:TSLA) $1.5 billion purchase
- November 30: Announces a $414.4 million between November 1 and November 29
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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