MicroStrategy CEO announces they bought $50 million worth of Bitcoin!

On Dec. 5^th Michael Saylor, Founder, Chairman & CEO of MicroStrategy, tweeted that they purchased more BTC, worth around $50 million.

MicroStrategy Incorporated is a company that provides business intelligence, mobile software, and cloud-based services. Founded in 1989 by Michael J. Saylor and Sanju Bansal, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It’s a publicly-traded company, which trades under the ticker: MSTR. MicroStrategy’s net worth as of December 2020 is $3.07 Billion, Which is an incredible jump over the last year. The company stock has more than doubled since the beginning of this year, gaining a staggering 127%.

MicroStrategy has gained popularity after announcing its interest in BTC. As mentioned In the tweet the company owns 40,824 Bitcoins worth around $776 million. based on its previous purchases, MicroStrategy’s average cost per bitcoin is $11,635. Meaning they have made more than $300 million by just investing in BTC.

MicroStrategy has announced that they will be investing their free cash in BTC. They are very bullish on The Cryptocurrency. Here is what Michael Saylor thinks about Bitcoin: “Bitcoin is not a currency, nor is it a payment network. It is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don’t have the option or desire to run their own hedge fund.”

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