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MicroStrategy owns 0.62% of all the Bitcoin (
$76,141.00 ) (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company had bought another 301 Bitcoin ( $76,141.00 ) for roughly $6 million, at an average price of ~$19,851 per BTC.
In sum, the company is one of the largest holders of Bitcoin ( $76,141.00 ) on the planet, holding 130,00 Bitcoin ( $76,141.00 ) . Clearly, Saylor likes round numbers, buying 301 Bitcoin ( $76,141.00 ) to reach the 130,000 milestone.
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
— Michael Saylor⚡️ (@saylor) September 20, 2022
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. The group’s entry price is roughly $30,639 per BTC and the SEC filing states that the group bought 130,000 Bitcoin ( $76,141.00 ) at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy were to start stacking sats (buying Bitcoin ( $76,141.00 ) ) at today’s prices, they would have spent $2.48 billion on 130,000 Bitcoin ( $76,141.00 ) . Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the purchase was made with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin ( $76,141.00 ) , while the District of Columbia took aim at the billionaire in a tax evasion lawsuit.
Bitcoin ( $76,141.00 ) enthusiasts were quick to commend Saylor’s Bitcoin ( $76,141.00 ) buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin ( $76,141.00 ) despite that the investment is underwater has garnered both a devout following and numerous critics.
Related: Bitcoin ( $76,141.00 ) better than physical property for regular folks, says Michael Saylor
Concerning other large wallet addresses, the Bitfinex (crypto exchange) wallet holds 170,000 BTC, while a Binance reserve wallet holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin ( $76,141.00 ) . For individuals, Saylor has stated that he holds Bitcoin ( $76,141.00 ) , while Sam Bankman-Fried, CEO of FTX and CZ, CEO of Binance, are also hodlers —a meme that became popular jargon for hold.
