HomeCryptoMicroStrategy CEO: “I don’t wait for the price of BTC to drop before buying”
MicroStrategy CEO: “I don’t wait for the price of BTC to drop before buying”
May 17, 2021
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Recently, CEO Michael Saylor revealed the company’s purchase of more Bitcoin.
CEO Michael Saylor’s confidence in cryptocurrencies in general and Bitcoin in particular is growing stronger. Recently, his company MicroStrategy bought an additional 271 Bitcoins to include in the company’s crypto archive.
Specifically, Saylor said that MicroStrategy bought Bitcoin on May 13 at a price of $55,387. Currently, the total amount of BTC that MicroStrategy is holding is 91,850 BTC.
MicroStrategy has purchased an additional 271 bitcoins for $15.0 million in cash at an average price of ~$55,387 per #bitcoin. As of 5/13/2021, we #hodl ~91,850 bitcoins acquired for ~$2,241 billion at an average price of ~24,403 per bitcoin. $MSTRhttps://t.co/EwZnRkAt6k
MicroStrategy also announced the batch bought BTC this time with the U.S. Securities and Exchange Commission (SEC) through a Form 8-K filing that was filed on Thursday.
Although many people say that MicroStrategy took advantage of the volatile market to “collect” because the news of Tesla’s suspension of accepting Bitcoin caused the price of this coin to plummet… but Saylor denied this.
He said that his previous style of buying Bitcoin is not to look at the price, because from the very beginning, he identified Bitcoin storage as the company’s long-term investment strategy, so if given the opportunity, he would Buy now, don’t wait until the price drops to buy.
Since claiming that increasing inflation could cause a decline in the value of the dollar, MicroStrategy has used the remaining cash in the company to buy Bitcoin.
In February, the company raised up to $900 million to buy more Bitcoin, becoming one of the largest BTC holding companies at the moment.
MicroStrategy is holding 91,850 BTC and this number will increase sharply in the future.
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