Michael Saylor announced on Twitter that MicroStrategy has purchased an additional 26,640 BTC for around $650M “in cash in accordance with its Treasury Reserve Policy.” The CEO disclosed that the firm purchased around $21,925 per bitcoin.
To date, the firm holds an aggregate of 70,470 Bitcoins, acquired at an aggregate purchase price of about $1.125 billion, and an average purchase price of $15,964 per Bitcoin.
Early in September, the firm told US SEC that it “may increase” its BTC holdings over the $250M investment that MicroStrategy bought last August 11.
Bitcoin was worth about $22,838.08 with a 24-hour trading volume of around $43B. BTC price has been up by 0.6% in the last hour and regarding the purchase, MicroStrategy CEO stated:
“The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value. We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price.”
Michael Saylor advised that Elon Musk can convert Tesla’s balance sheet into Bitcoin. In a tweet from December 20, Saylor told Musk that other firms on the S&P 500 will follow his lead of he adopted the digital asset:
“If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.”
When the Tesla CEO asked if large transactions are possible, Saylor proposed to share his “playbook” to help Elon Musk:
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