- Michael Saylor, being a pro-crypto leader, offset the Bitcoin buying master plan in 2020, putting $250 million in the cryptocurrency.
- The strategy is working for the company and the stock of Microstrategy is over 3000% after it announced the plan.
- Some reports speculated that Trump might sign a crypto-associated executive order on his first day in office, but no such publicization has been as of January 21.
The co-founder of MicroStrategy, Michael Saylor has revealed through an X post on January 21 that the company has recently acquired 11,000 BTC, estimated at around $1.1 billion. As per the same X post, Saylor conveyed that the recent Bitcoin acquisition takes the total holdings to 461,000 BTC, estimated at about $29.3 billion.
The average cost of purchasing per Bitcoin in the MicroStrategy portfolio stands at $63,610. The official filing of MicroStrategy with the Securities and Exchange Commission of the United States shows that the buying was concluded at the time of the week ending January 19.
The purchase further strengthens the Virginia-based company’s status as one of the biggest corporate holders of Bitcoin. The recent purchase of MicroStrategy accompanies current discussions regarding cryptocurrency regulation in the United States.
The master plan turns boon for the company
Michael Saylor, being a pro-crypto leader, offset the Bitcoin buying master plan in 2020, putting $250 million in the cryptocurrency. After that, the company continued to buy BTC since then, with its strategy boosted in 2024.
As of the current data, MicroStrategy holds 461,000 Bitcoins, whose total worth is more than $49 billion after announcing its recent Bitcoin purchase. As per Saylor, purchasing Bitcoin and holding it for the long term is a way to get better returns for company shareholders and fight unavoidable inflation.
He has also termed Bitcoin as a digital gold. The strategy is working for the company and the stock of Microstrategy is over 3000% after it announced the plan. In December last year, Microstrategy joined Nasdaq-100, an index of the top 100 non-financial firms on the Nasdaq stock market, besides tech giants such as Apple and Microsoft.
The Industry is still not happy
Recently, Saylor has interacted with the representatives of President-elect Donald Trump’s upcoming administration. The co-founder has also shown optimism towards the upcoming president due to his pro-crypto stance.
Trump has shown support for the virtual asset industry, at the time of his campaign and at the Bitcoin 2024 Conference that his government would work towards a crypto-friendly substructure. Regardless of these comments, some in the crypto community were not happy as no comment on blockchain or virtual assets took place in the official January 20 White House briefing.
The briefing mainly highlighted the priorities of Trump, which aimed at immigration and government efficiency. Some reports speculated that Trump might sign a crypto-associated executive order on his first day in office, but no such publicization has been as of January 21.
