Monday, December 21, 2020 11:42:19 AM
December 21 2020 - 09:36AM
Cointelegraph
Michael Saylor announces another $650 million purchase of Bitcoin as price dips from weekend highs.
https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/83953158/microstrategy-buys-the-dip-now-has-more-btc-tha
JACK MARTIN
2 HOURS AGO
MicroStrategy buys the dip — Now has more BTC than US govt
https://cointelegraph.com/news/microstrategy-buys-the-dip-now-has-more-btc-than-us-govt
Michael Saylor announces another $650 million purchase of Bitcoin as it price dips from weekend highs.
Business intelligence company MicroStrategy has added to its Bitcoin (BTC) stash, with a purchase of 29,646 BTC for a total of $650 million, an average of around $21,925 per Bitcoin
CEO Michael Saylor tweeted the news immediately following a pullback in price to $22,247, although it is unclear whether the acquisition coincided with this event.
MicroStrategy announced its intention to buy more Bitcoin earlier this month with a $400 million debt security sale to raise funds for the purchase. The bond sale ultimately brought in $650 million, which has now been used to buy Bitcoin as promised.
The company is now holding a total of 70,470 BTC, bought at an average price per Bitcoin of $15,964. This makes it the fifth-largest individual hodler of Bitcoin, one place ahead of the United States government, which reportedly owns 69,420 BTC.
MicroStrategy started its Bitcoin journey in August with a purchase of 21,000 BTC for $250 million. At the time, the company stated that its intention was to adopt Bitcoin as its primary reserve currency as a hedge against U.S. dollar inflation.
This was followed by further purchases, including a $425 million acquisition in September, which were carried out through Coinbase's over-the-counter desk.
Most recently, Saylor encouraged fellow billionaire Elon Musk to follow his lead and use BTC to replace the U.S. dollar as Tesla's primary reserve currency. This would encourage other S&P 500 firms to follow suit, argued Saylor, compounding the benefits of the move.
Recent BTCUSD News
- Uniswap Founder Shares His Two Cents On Good Token Distributions • NEWSBTC • 05/05/2024 07:52:13 AM
- Crypto Analyst Unveils Massive Bitcoin Price Target, Says BTC Flashing Bullish Chart Pattern – Here’s His Outlook • The Daily Hodl • 05/05/2024 07:04:21 AM
- Bitfinex database breach 'seems fake,' says CTO • Cointelegraph • 05/05/2024 05:39:56 AM
- Bitcoin will 'propel the next leg up' if key trading pattern confirms — Traders • Cointelegraph • 05/05/2024 02:52:50 AM
- Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here • NEWSBTC • 05/05/2024 12:10:06 AM
- Solana Primed To Establish Itself As ‘Third Major Crypto Asset’ After Bitcoin and Ethereum: Franklin Templeton • The Daily Hodl • 05/05/2024 12:00:38 AM
- Jack Dorsey-Led Block Announces Plan To Invest 10% of Its Gross Profit From Bitcoin Products Directly Into BTC • The Daily Hodl • 05/04/2024 08:00:24 PM
- Analyst Says Bitcoin Price Is Headed To $90,000, Here’s Why • NEWSBTC • 05/04/2024 08:00:13 PM
- More than half of the Fortune 100 uses Apple’s Vision Pro headset • Cointelegraph • 05/04/2024 07:20:52 PM
- $83,000 Drained From Wells Fargo Accounts in Minutes – Customers Say Bank ‘Rolling Their Eyes,’ Blaming Them, Refusing To Reimburse • The Daily Hodl • 05/04/2024 07:14:19 PM
- Wrapped Bitcoin (WBTC) Wallet Loses $69,300,000 Worth of Crypto in Apparent Address Poisoning Scam • The Daily Hodl • 05/04/2024 06:45:20 PM
- Bitfinex CTO denies new allegations of user data hack, assures funds are secure • Crypto Briefing • 05/04/2024 05:53:24 PM
- Venture Capitalists Funnel Nearly $2,500,000,000 Into Crypto in Q1 of 2024: Galaxy Research • The Daily Hodl • 05/04/2024 04:55:17 PM
- Vodafone looks to integrate crypto wallets with sim cards • Cointelegraph • 05/04/2024 04:36:34 PM
- Crypto startups see rapid growth through ‘fluid valuations’ and decentralized cap tables — Bloomberg • Crypto Briefing • 05/04/2024 04:23:32 PM
- Cardano Creator Charles Hoskinson Reacts To Michael Saylor Calling ADA, ETH, SOL, And XRP Securities • ZyCrypto • 05/04/2024 04:17:14 PM
- Is Bitcoin price going to crash again? • Cointelegraph • 05/04/2024 04:04:04 PM
- Crypto Expert Arthur Hayes Says Bitcoin Has Found Its Local Bottom – But Can It Hold This Level? • NEWSBTC • 05/04/2024 04:00:06 PM
- Bitcoin opens $63K futures gap as thin liquidity threatens BTC price • Cointelegraph • 05/04/2024 02:11:35 PM
- PEPE Primed For A Big Leap: 80% Price Increase Incoming? • NEWSBTC • 05/04/2024 02:00:37 PM
- What are tokenized commodities? • Cointelegraph • 05/04/2024 01:14:00 PM
- Bitcoin Pops Above $64,000 After Grayscale’s GBTC Snaps 78-Day Outflow Streak With $63M In New Money • ZyCrypto • 05/04/2024 01:09:08 PM
- Wojak Finance Launches GenX NFT Collection: A Meme Coin with a Mission • ZyCrypto • 05/04/2024 12:39:57 PM
- Sui Celebrates First Anniversary Following a Year of Web3 Growth and Technological Breakthroughs • ZyCrypto • 05/04/2024 12:26:57 PM
- Crypto Trader Says Top Ethereum Rival Primed for Massive Bull Run Ahead, Updates Outlook on Bitcoin • The Daily Hodl • 05/04/2024 11:45:37 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM