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The independent, publicly traded business intelligence company Microstrategy announced on Monday that it will acquire 13,005 Bitcoin for approximately $489 million in cash. The company’s CEO Michael Saylor revealed the latest purchases on Twitter, and the company’s balance sheet now has more than 100,000 bitcoins.
Michael Saylor’s company Microstrategy now owns approximately 105,085 bitcoins, which it bought for approximately $2.741 billion. The company stated that using the purchase average, it bought all BTC at a price of “around $26,080 per bitcoin, including fees and expenses.”
As usual, Microstrategy CEO Michael Saylor Tweet Tell his 1.2 million Twitter followers about the purchase. “As of June 21, 21, we #hodl ~105,085,” Saylor pointed out Monday morning.
Not everyone was impressed by Microstrategy’s Bitcoin purchase announcement, and some people like Peter Schiff made ironic comments. “You have bought all the bitcoins and the price has been falling, which is very pessimistic,” Schiff Replied To Saylor’s tweet on Monday.
“Think about what if Elon Musk, Michael Seller, Barry Silbert and all the other Bitcoin elites and their friends in the financial media have not convinced retail and institutional investors to buy in the past six months. They have worthless bitcoins, so what will the price of bitcoins be today? Tokens,” Schiff Say The day before, the price of Bitcoin began to plummet.
Sven Henrich of Northman Trader also Responded Announcement to Seiler. “Understand the conviction. But the question is: Since both the average price and the leverage used are rising, what is the risk profile/consequence if Bitcoin falls below the average holding price?” Henrich asked the CEO of Microstrategy.
When someone asked whether Henry Sayler’s choice was a good bet, Northman Trader went further comment“It’s not that he was wrong,” Henrich replied. “Just ask what the risk profile is, if [the] The price is lower than the average holding price. “
Before Microstrategy purchased 13,005 BTC, the People’s Bank of China recently released an announcement. On June 21, 2021, the People’s Bank of China (PBOC) issued a notice on cryptocurrency transactions to a number of financial institutions.
Since then, BTC has fallen 4% in 24 hours and is above $32,000. In other words, the price is actually lower than the price of each token that Microstrategy paid for the most recent BTC acquisition.
Other Bitcoin supporters also responded to Thaler’s tweet. “It’s time to deploy the next billion people,” software developer Jameson Lopp Tweet. Someone jokingly commented on Loop’s statement Say: “Fix it: it’s time to deploy the next billion borrowed.”
“Unfortunately, contrary to popular belief, people cannot continue to buy bargain-hunting indefinitely,” said one person Say Many enthusiasts told the Microstrategy CEO to “continue to buy on dips.”
What do you think of Microstrategy’s purchase of 13,005 bitcoins and a total of more than 100,000 bitcoins? Please tell us your thoughts on this topic in the comments section below.
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