{"id":626268,"date":"2023-04-06T14:50:25","date_gmt":"2023-04-06T19:50:25","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/04\/06\/microstrategy-bets-bigger-on-bitcoin-with-29-million-btc-scoop\/"},"modified":"2023-04-06T14:50:25","modified_gmt":"2023-04-06T19:50:25","slug":"microstrategy-bets-bigger-on-bitcoin-with-29-million-btc-scoop","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/04\/06\/microstrategy-bets-bigger-on-bitcoin-with-29-million-btc-scoop\/","title":{"rendered":"MicroStrategy Bets Bigger On Bitcoin With $29 Million BTC Scoop"},"content":{"rendered":"<div>\n<p>Summary: <\/p>\n<ul>\n<li>MicroStrategy added to its Bitcoin coffers with a $29.3 million BTC purchase, per SEC filing from April 4.<\/li>\n<li>The business intelligence firm accumulated 1,045 at an average price of $28,016 per BTC since March 24.<\/li>\n<li>Michael Saylor\u2019s firm is the single largest corporate BTC holder with 140,000 tokens, around 0.66% of Bitcoin\u2019s total supply of 21 million coins.<\/li>\n<\/ul>\n<p>Business software firm MicroStrategy <a href=\"https:\/\/www.microstrategy.com\/en\/investor-relations\/financial-documents\/microstrategy-acquires-additional-1045-btc-and-now-holds-140000-btc_4-5-2023\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.microstrategy.com\/en\/investor-relations\/financial-documents\/microstrategy-acquires-additional-1045-btc-and-now-holds-140000-btc_4-5-2023\" rel=\"noreferrer noopener nofollow\">accumulated more Bitcoin<\/a> since March, spending tens of millions of dollars to stack satoshis as crypto\u2019s top coin eyes $30,000. <\/p>\n<p>A filing with the U.S. Securities and Exchange Commission (SEC) from April 4 showed that Michael Saylor\u2019s company splurged $29.3 million to buy 1,045 BTC. The latest Bitcoin buy was scooped up at an average price of $28,016 per BTC since March 24. <\/p>\n<figure><\/figure>\n<p>The company and its subsidiaries are the single largest corporate holders of Bitcoin with 140,000 BTC worth around $4.17 billion. The company started buying BTC in August 2020, holding over 131,000 Bitcoins by December 2022. <\/p>\n<p>Saylor\u2019s firm, through its subsidiary MacroStrategy, received a $205 million loan collateralized in crypto\u2019s largest coin \u2013 BTC. The loan was issued by the troubled U.S. bank Silvergate in March 2022. MicroStrategy paid off the loan early at a 22% discount shortly after Silvergate suffered a bank run and decided to <a href=\"https:\/\/www.cnbc.com\/2023\/03\/08\/silvergate-shutting-down-operations-and-liquidating-bank.html\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.cnbc.com\/2023\/03\/08\/silvergate-shutting-down-operations-and-liquidating-bank.html\" rel=\"noreferrer noopener\">liquidate<\/a> its business. <\/p>\n<p>Along with the loan repayment, MicroStrategy also <a href=\"https:\/\/en.ethereumworldnews.com\/microstrategy-bitcoin-repay-silvergate\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/en.ethereumworldnews.com\/microstrategy-bitcoin-repay-silvergate\/\" rel=\"noreferrer noopener\">bought<\/a> 6,455 BTC worth $150 million at an average price of $23,238 per Bitcoin.<\/p>\n<p>The price of MicroStrategy\u2019s shares (MSTR) fell about 3% after the SEC filing was disclosed. Bitcoin\u2019s price dipped below $28,000 after the news, a phenomenon that supposedly happens every time Saylor\u2019s company announces another BTC buy. <\/p>\n<h2>Saylor Dumps CEO Role, Focuses on MicroStrategy\u2019s Bitcoin Plan<\/h2>\n<p>In 2022, Michael Saylor resigned as MicroStrategy CEO amid an exodus of C-suite executives at crypto-linked businesses. Saylor stepped down to focus on the company\u2019s Bitcoin plan, the BTC maxi explained to the crypto community after the announcement. <\/p>\n<p>MicroStrategy was already one of the largest holders of Bitcoin at the time. Now, the company commands 0.66% of BTC\u2019s total supply of 21 million. This makes Saylor\u2019s company the largest corporate holder of Bitcoin by a margin. <\/p>\n<\/div>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/microstrategy-bitcoin-29-million-btc-buy\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Naga Avan-Nomayo<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: MicroStrategy added to its Bitcoin coffers with a $29.3 million BTC purchase, per SEC filing from April 4.The business intelligence firm accumulated 1,045 at an average price of $28,016 per BTC since March 24.Michael Saylor\u2019s firm is the single largest corporate BTC holder with 140,000 tokens, around 0.66% of Bitcoin\u2019s total supply of 21<\/p>\n","protected":false},"author":1,"featured_media":626269,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22763,43078],"tags":[],"class_list":{"0":"post-626268","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bigger","8":"category-microstrategy"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/626268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=626268"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/626268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/626269"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=626268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=626268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=626268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}