According to a recent tweet published by co-founder of business intelligence behemoth Michael Saylor, his company owns 158,400 BTC after acquiring 155 Bitcoin in October. Now, this amount of BTC is evaluated at $5,416,676.
MicroStrategy has been accumulating the world’s flagship crypto, Bitcoin, since August 2020, when its profits became stagnant and Saylor (who was CEO back then) decided to convert some of its cash balance into BTC and has been doing it regularly since then.
Later on, the company several times took to issuing shares to acquire funds for purchasing more Bitcoin.
In September, MicroStrategy purchased 5,445 BTC, paying $147.3 million for that amount of crypto at an average price of $27,053 per unit.
As reported earlier, in October, the company made a staggering on its total BTC holdings, which now amount to $5,493,866,400 (5.4 billion USD).
Since May, Saylor’s company has purchased 28,560 BTC, which is the equivalent to $734 million. The company paid an average price of $25,707 for those Bitcoins.
Max Keiser still believes in Bitcoin at $220,000
Major Bitcoin proponent Max Keiser has recently several times stated in his tweets that he continues to believe that Bitcoin is likely to reach $220,000 – the price level he had predicted earlier.
The main reason cited by Keiser for this price surge now is the rapid increase of the US national debt. According to a tweet by Zerohedge that he referred to, the US government intends to borrow $1 trillion this and next quarter after getting a loan of $1.5 trillion in the last quarter this year.
Over the past three years, prominent financial guru and author of the book “Rich Dad, Poor Dad”, Robert Kiyosaki, also named the same reason as he expected Bitcoin to surge. This year, he also named the potential launched of a gold-backed currency by BRICS for internal trade to reduce their dependency on the USD. However, the currency has not been launched so far. Kiyosaki now expects Bitcoin to hit $500,000 by 2025 and says that $135,000 will be next stop for BTC.
This article was originally published on U.Today
https://www.investing.com/news/cryptocurrency-news/heres-how-much-bitcoin-microstrategy-holds-after-recent-purchase-3221884
