MicroStrategy wants to continue buying Bitcoin and has no intention to sell it since its shareholders see it as a long-term investment. They added 8,957 BTC to their holdings and said they would evaluate other opportunities to raise additional capital.
Michael Saylor recently reported that MicroStrategy acquired nearly 9,000 BTC in the third quarter. He said that the purchase raised its holdings to 114,042 BTC, equivalent to more than USD 7 billion.
The CEO of MicroStrategy stated that the business intelligence firm is a corporate owner of Bitcoin and will continue to evaluate opportunities.
Saylor stated that MicroStrategy commits itself to buy Bitcoin and has no intention to sell it. He considers that the pioneering cryptocurrency is an excellent long-term investment for the shareholders of the firm.
In that regard, Saylor expressed that he is open to partnerships allowing MicroStrategy to acquire more Bitcoin. That proves how much he supports the cryptocurrency, which he keeps as a store of value.
MicroStrategy Increases Its Investment in Bitcoin Again
MicroStrategy revealed that it added 8,957 BTC to its holdings in the third quarter. Besides, they said they would evaluate other opportunities to raise additional capital and execute their Bitcoin strategy.
Bitcoin is trading at around USD 61,400 and has accumulated a profit of 0.6% in the last week, according to CoinGecko. Meanwhile, the value of the BTC holdings of MicroStrategy is equivalent to about USD 6.9 billion.
Of course, the billionaire entrepreneur is not a lucky person but a 21st century CEO who has made one of the best financial decisions. Those wanting to invest their money in this cryptocurrency only need to review how its price has evolved.
The Financial Report of MicroStrategy for the Third Quarter
MicroStrategy recently announced its financial results for the third quarter of its 2021 fiscal year, which ended on September 30th. Saylor said that MicroStrategy delivered strong results in the third quarter, thus proving the successful execution of its digital asset strategies.
The firm acquired Bitcoin with excess cash flows and debt and equity transactions. The company plans to keep the cryptocurrency in its treasury in the long term. Since the third quarter of 2018, when they bought 38,250 BTC, the worth of their BTC holdings rose to 114,042 BTC in the third quarter of 2021.
A Report from the Securities and Exchange Commission
Two weeks ago, the US Securities and Exchange Commission gave information about the purchase of almost 9,000 BTC. The agency reported that MicroStrategy spent around USD 419.9 million cash on Bitcoin between July 1st and September 12th.
Then they stated that the company had acquired about 114,042 BTC at a total price of approximately USD 3.16 billion. They added that the average purchase price was about USD 27,713 per Bitcoin, including fees and expenses.
That purchase of Bitcoin by MicroStrategy seemed to have taken place a week after two of its executives sold part of their shares. All the speculations went down with the information by Saylor about the new acquisition of Bitcoin.
Saylor sees the great potential of Bitcoin, for which he wants to keep it for the next decade. He considers its primary functions are to be a store-of-value asset and a means to transfer money across borders. However, he prefers to buy products and pay for services with fiat money and other traditional solutions.
By Willmen Blanco