{"id":465963,"date":"2021-06-21T17:32:52","date_gmt":"2021-06-21T17:32:52","guid":{"rendered":"https:\/\/wncen.com\/?p=465963"},"modified":"2024-06-11T13:56:31","modified_gmt":"2024-06-11T13:56:31","slug":"microstrategy-buys-million-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/microstrategy-buys-million-bitcoin\/","title":{"rendered":"Microstrategy Buys Another $489 Million Worth Of Bitcoin"},"content":{"rendered":"

Microstrategy bought on Monday 13,005 Bitcoins worth about $489 million at an average price of $37,617 per coin.<\/p>\n

Now the business owns a total of 105,085 BTC that they bought for $2.74 billion. The average price per coin comes out to be $26,080.<\/p>\n

Microstrategy’s CEO Makes Bitcoin Acquisition Second Business<\/h2>\n

Microstrategy’s primary business is software development. Michael Saylor, the CEO of the company, has added Bitcoin acquisition as a second mandate.<\/p>\n

BTC is down 8% to about $33k today as a result of China’s continued crackdowns on mining hubs. As Microstrategy’s stock is tied to BTC, it too fell over 6%.<\/p>\n

As of right now, the 105,085 BTC that Microstrategy holds is worth more than $3 billion. The software company acquired them at an average price of $26,080 per coin including fees and other expenses.<\/p>\n

Microstrategy had to take debt offerings<\/a> so that the firm could pick up more coins, and they seem to have doubled down even more on their Bitcoin pursuits after the $489 million buy today.<\/p>\n

Regarding their BTC business, Saylor says<\/a>:<\/p>\n

We rotated our shareholder base and transformed ourselves into a company that\u2019s able to sell enterprise software and to acquire and hold bitcoin, and we\u2019ve done it successfully with leverage.<\/p><\/blockquote>\n

The software developer has also decided to sell more stock worth $1 billion<\/a> so that they can fund more Bitcoin purchases<\/p>\n

All these purchases have been a big benefit for the company as the year-on-year revenue jumped to 10%. Saylor says:<\/p>\n

That has increased the power of the brand by a factor of 100. We just had our best software quarter … in the last 10 years last quarter<\/p><\/blockquote>\n

Related Reading | MicroStrategy Receives Over $1.5B In Orders For $500M Notes To Fund Bitcoin Purchases<\/a><\/strong><\/em><\/p>\n

Microstrategy has also seen the benefit in terms of stock value. In August last year, when they first started buying BTC, their stock price was around $120. Today, it is $580, a sharp increase of over 400%.<\/p>\n

The bitcoin business is driving shareholder returns. I think the employees are happy. The shareholders are happy.<\/p><\/blockquote>\n

Bitcoin Price<\/h2>\n

BTC<\/a> is down to $32,195 today. This value is 19% down compared to last week. While over the entire month, its down slightly less, around 15%.<\/p>\n

Here is a chart that showcases the current trend:<\/p>\n

\"\"<\/p>\n

BTC shows a downward trend, again | Source: BTCUSD on TradingView<\/a><\/pre>\n
It looks like the market is bearish right now, and it’s unclear when it would change for the better.<\/p>\n
China’s crackdowns on crypto seem to be having a major effect on the price of BTC so the future of the market probably depends on that as well. Right now, China doesn’t seem to be slowing down.<\/p>\n
Related Reading | <\/strong><\/em>Bitcoin Mining In China To Usher Historic Moment, Will BTC Be Affected?<\/strong><\/em><\/a><\/p>\n
Some experts believe the market could correct itself to 1\/2 of the value at $17k, and only after that a bullish pattern will make a return.<\/p>\n
 <\/p>\n","protected":false},"excerpt":{"rendered":"
Microstrategy bought on Monday 13,005 Bitcoins worth about $489 million at an average price of $37,617 per coin. Now the business owns a total of 105,085 BTC that they bought for $2.74 billion. The average price per coin comes out to be $26,080. Microstrategy’s CEO Makes Bitcoin Acquisition Second Business Microstrategy’s primary business is software development. Michael Saylor, the CEO of the company, has added Bitcoin acquisition as a second mandate. BTC is down 8% to about $33k today as a result of China’s continued crackdowns on mining hubs. As Microstrategy’s stock is tied to BTC, it too fell over 6%. As of right now, the 105,085 BTC that Microstrategy holds is worth more than $3 billion. The software company acquired them at an average price of $26,080 per coin including fees and other expenses. Microstrategy had to take debt offerings so that the firm could pick up more coins, and they seem to have doubled down even more on their Bitcoin pursuits after the $489 million buy today. Regarding their BTC business, Saylor says: We rotated our shareholder base and transformed ourselves into a company that\u2019s able to sell enterprise software and to acquire and hold bitcoin, and we\u2019ve done it successfully with leverage. The software developer has also decided to sell more stock worth $1 billion so that they can fund more Bitcoin purchases All these purchases have been a big benefit for the company as the year-on-year revenue jumped to 10%. Saylor says: That has increased the power of the brand by a factor of 100. We just had our best software quarter … in the last 10 years last quarter Related Reading | MicroStrategy Receives Over $1.5B In Orders For $500M Notes To Fund Bitcoin Purchases Microstrategy has also seen the benefit in terms of stock value. In August last year, when they first started buying BTC, their stock price was around $120. Today, it is $580, a sharp increase of over 400%. The bitcoin business is driving shareholder returns. I think the employees are happy. The shareholders are happy. Bitcoin Price BTC is down to $32,195 today. This value is 19% down compared to last week. While over the entire month, its down slightly less, around 15%. Here is a chart that showcases the current trend: BTC shows a downward trend, again | Source: BTCUSD on TradingView It looks like the market is bearish right now, and it’s unclear when it would change for the better. China’s crackdowns on crypto seem to be having a major effect on the price of BTC so the future of the market probably depends on that as well. Right now, China doesn’t seem to be slowing down. Related Reading | Bitcoin Mining In China To Usher Historic Moment, Will BTC Be Affected? Some experts believe the market could correct itself to 1\/2 of the value at $17k, and only after that a bullish pattern will make a return.  <\/p>\n","protected":false},"author":542,"featured_media":465979,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,6664,1558,81299],"class_list":["post-465963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto","tag-cryptocurrency","tag-microstrategy"],"acf":[],"yoast_head":"\nMicrostrategy Buys Another $489 Million Worth Of Bitcoin<\/title>\n<meta name=\"description\" content=\"Microstrategy bought on Monday 13,005 Bitcoins worth about $489 million at an average price of $37,617 per coin. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Microstrategy Buys Another $489 Million Worth Of Bitcoin","url":"http:\/\/wncen.com\/news\/microstrategy-buys-million-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/microstrategy-buys-million-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/andre-francois-mckenzie-D5tFUB_42IU-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/andre-francois-mckenzie-D5tFUB_42IU-unsplash.jpg?fit=2120%2C1416"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto","cryptocurrency","microstrategy"],"dateCreated":"2021-06-21T17:32:52Z","datePublished":"2021-06-21T17:32:52Z","dateModified":"2024-06-11T13:56:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Microstrategy Buys Another $489 Million Worth Of Bitcoin\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/microstrategy-buys-million-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/microstrategy-buys-million-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/andre-francois-mckenzie-D5tFUB_42IU-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/andre-francois-mckenzie-D5tFUB_42IU-unsplash.jpg?fit=2120%2C1416\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto\",\"cryptocurrency\",\"microstrategy\"],\"dateCreated\":\"2021-06-21T17:32:52Z\",\"datePublished\":\"2021-06-21T17:32:52Z\",\"dateModified\":\"2024-06-11T13:56:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/andre-francois-mckenzie-D5tFUB_42IU-unsplash.jpg?fit=2120%2C1416","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/465963"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=465963"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/465963\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/465979"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=465963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=465963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=465963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}