Michael Saylor's $30M Bitcoin Acquisition Catapults His Crypto Wealth into the Billions – Here's the Latest
As he continues to demonstrate a bullish approach to bitcoin (BTC), Michael Saylor, the founder and executive chairman of software company MicroStrategy, is ramping up the firm’s exposure to crypto with a recent major investment.
MicroStrategy unveiled its latest BTC purchase in a filing with the U.S. regulator Securities and Exchange Commission (SEC).
“On April 5, 2023, MicroStrategy Incorporated … announced that, during the period between March 24, 2023 and April 4, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 1,045 bitcoins for approximately $29.3 million in cash, at an average price of approximately $28,016 per bitcoin, inclusive of fees and expenses,” the business said in its filing.
As of April 4, 2023, together with its subsidiaries, the software firm held a total of about BTC 140,000 which were bought at an aggregate price of some $4.17 billion and an average purchase price of about $29,803 per BTC, including fees and expenses, according to data released by MicroStrategy.
The latest development, which Saylor also shared on his personal Twitter account, has triggered a wide range of reactions from the businessman’s followers on the social media platform.
Florida-based entrepreneur Zev Freidus claims that the company’s crypto investments make MicroStrategy stock an attractive investment.
“Current market cap of [MicroStrategy] is $3.8B, with $4.17B of bitcoin it would seem the stock is a bargain. Plus it’s an alternative to owning BTC on exchange, plus you have the strategic management of [Michael Saylor]. Seems like a no brainer,” Freidus said in a tweet.
Some among the commentators offered their investment advice to MicroStrategy's founder.
“Mike you’ll either be the richest man on
Read more on cryptonews.com
