• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

MicroStrategy Discloses A $15M Bitcoin Purchase

Taylor Scott by Taylor Scott
1 year ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

When it comes to bitcoin, MicroStrategy is looking for more. This comes after buying over 20,000 BTC in the first quarter of the year, at an average cost of roughly $52K (for a total cost exceeding $1B). Now, the business intelligence firm led by Bitcoin advocate Michael Saylor is adding to their position.

The Macro MicroStrategy

Saylor shared on Twitter today that the company purchased an additional 271 BTC, at a cost of $55,387 per coin. He also noted that as of today, the company holds over 90K BTC in total with an average of just over $24K per coin. Also included in the Twitter post is the company 8-K referencing the purchase.

In a Q1 release, the company stated that “first-quarter results were a clear example of our two-pronged corporate strategy, to grow our enterprise analytics software business and acquire and hold bitcoin which is generating substantial shareholder value”. The company’s latest bitcoin purchase seems to reaffirm that position from just a couple months ago.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The news comes on the heels of Tesla CEO Elon Musk suspending payments in bitcoin for vehicle purchases, citing environmental concerns.

Related Reading | $425Bn Wiped Off Crypto Market As Musk Says Bitcoin Is Bad For the Environment

Who’s Who

MicroStrategy ($MSTR) is the largest independent publicly-traded business intelligence company in the US, with a product used by a number of different Fortune 500 firms. The recent 8-K, and previous bitcoin purchases, aren’t the first time MicroStrategy has ingrained crypto into the business. Just last month, the firm released an 8-K disclosing it’s decision to pay their board of directors in Bitcoin.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Saylor has been an outspoken crypto advocate, and last year led MicroStrategy to be the first publicly-traded company to modify corporate strategy in adopting bitcoin. Only 32 publicly traded companies, of 40,000 on the market, have bitcoin on their balance sheet. MicroStrategy is the largest publicly-traded corporate BTC holder to date. The firm’s stock took a nearly 10% dip on the day.

MicroStrategy reported a 10% jump in revenues in the first quarter, with an over 50% increase in product licenses and and subscription revenues.

MicroStrategy continues to look to "buy the dip" | Source: BTC-USD on TradingView.com

The Crypto Conviction

As if the public-facing business decisions weren’t enough, Saylor’s statements on crypto broadly will tell you quite a bit about the company’s optimistic perspective. Just yesterday, Saylor described bitcoin as the “most powerful and disruptive technology of our lifetime”. Additionally, Saylor hosted a “Bitcoin for Corporations” conference in February. Saylor often talks of the ‘Bitcoin Standard’ as a way to help struggling countries revive their economies.

Given that Saylor continues to be a vocal advocate for crypto, even saying that there is “zero chance” of bitcoin being replaced, it seems like MicroStrategy’s engagement in the space is likely to continue through the coming quarters.

Related Reading | Crypto Analyst Claims MicroStrategy Is “On The Ropes” Amidst Bitcoin Selloff

Featured image from Pixabay, Charts from TradingView.com
Tags: bitcoinMichael SaylorMicrostrategypurchase
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Taylor Scott

Taylor Scott

Taylor specializes in crypto activity across sports and entertainment. With nearly a decade of engagement with cryptocurrency, Taylor has spent several years working in talent representation with musicians, comedians, and speakers, and achieved a Sports Business MBA in 2020.

Related Posts

bitcoin hammer reversal

Hammer Time: The Bullish Signal That Could Save Bitcoin

11 hours ago
Cosmos

Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery

1 day ago
MicroStrategy

MicroStrategy Will Not Dump Any Of Its Bitcoin, CFO Reveals

2 days ago
Bitcoin

Bitcoin NUPL Touches Lows Not Seen Since COVID Crash, Rebound Soon?

2 days ago
Bitcoin

Long Liquidations Continue To Rock Market As Bitcoin Struggles To Settle Above $30,000

2 days ago
El Salvador bitcoin

More Stress For El Salvador As Bitcoin Dips To $29,000

3 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List FidoMeta (FMC) on May 23, 2022

May 22, 2022

Are Mountanaz (MNAZ), Bancor (BNT) and Convex Finance (CVX) the Top DeFi Projects to Watch in 2022?

May 22, 2022

ApeCoin (APE) has a New Rival: The Burgeoning Saga of RoboApe Token (RBA)

May 22, 2022

The Changing Face Of DeFi: What Is The Future Of Fundraising?

May 22, 2022

3 CRYPTOCURRENCIES THAT WILL MAKE YOU A MILLIONAIRE: PACMAN FROG (PAC), POLYGON (MATIC), AND STELLAR (XLM)

May 22, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.