The American business intelligence company, MicroStrategy, made a third million-dollar purchase of bitcoins (BTC) on Friday. This time the amount invested was $ 50 million in cash, according to its founder and CEO, Michael Saylor.
The executive revealed, through his Twitter account, that the operation was for 2,574 bitcoins, which confirms the great interest shown by the corporation in investments in the first cryptocurrency.
“MicroStrategy has purchased approximately 2,574 Bitcoins for $ 50 million in cash, in accordance with its Treasury Reserve Policy, at an approximate average price of $ 19,427 per bitcoin. Now we have approximately 40,824 bitcoins “, was the message that spread Saylor on the social network that already has more than 13,000 likes, 3,000 retweets and 1,000 comments.
The MicroStrategy purchase was notified to the Securities and Exchange Commission (SEC), as the regulator of the financial sector of the United States, according to an attached document shared by Saylor. In the text, also disclosed by the SEC on its website, is listed as signatory W. Ming Shao, who serves as MicroStrategy’s Senior Executive Vice President and General Counsel.
MicroStrategy’s new move draws attention because the bitcoin price is flirting with its all-time high for several weeks. That is, the company seems not to pay much attention to the price of the cryptocurrency in the market, but in accumulate bitcoins regardless of their price. At the time of publishing this article, the price of BTC was $ 19,083, according to the markets index of CryptoNoticias.
By multiplying the amount of bitcoins acquired by the current price, it is obtained that the company maintains 780 million dollars in BTC in its treasury.
MicroStrategy and its approach to bitcoin
The corporation began investing in bitcoin in August this year at acquire a total of 21,454 BTC for an amount of 250 million dollars. A month later, CriptoNoticias reported a second purchase, this time for 16,000 BTC and 175 million dollars. When adding the amount invested this Friday, the company exhibits a global investment of 475 million dollars.
Saylor himself has defended his position on bitcoin by saying that he already has global acceptance and shows architectural resilience. For the executive, these elements “are persuasive evidence of its superiority as an asset class for those seeking a long-term store of value.”
So far, bitcoin operations have brought good financial results to the company. In fact, in October, and considering the first two purchases, the company obtained more gains with two months in bitcoin than in three years of offering their services.
The transaction carried out this Friday by MicroStrategy is in accordance with a institutional investment stream in bitcoin. During the last 18 months, more companies have approached the bitcoiner ecosystem. Some of the companies that have made their bitcoin investments public are: Grayscale, Galaxy Digital, Square and Stone Ridge Asset Management, for example.
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