Michael Saylor can’t stop: MicroStrategy now holds 130,000 Bitcoin

Published at: Sept. 20, 2022

MicroStrategy owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company had bought another 301 Bitcoin 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 on the planet, holding 130,00 Bitcoin. Clearly, Saylor likes round numbers, buying 301 Bitcoin 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 at an aggregate purchase price of approximately $3.98 billion.

If MicroStrategy were to start stacking sats (buying Bitcoin) at today’s prices, they would have spent $2.48 billion on 130,000 Bitcoin. 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, while the District of Columbia took aim at the billionaire in a tax evasion lawsuit.

Bitcoin enthusiasts were quick to commend Saylor’s Bitcoin buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite that the investment is underwater has garnered both a devout following and numerous critics.

Related: Bitcoin 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. For individuals, Saylor has stated that he holds Bitcoin, while Sam Bankman-Fried, CEO of FTX and CZ, CEO of Binance, are also hodlers —a meme that became popular jargon for hold.

Tags
Bitcoin
Business
Hodl
Bitcoin Wallet
Microstrategy
Related Posts
Terra smash buys $139M Bitcoin, wallet reaches 31,000 BTC
Watch out Michael Saylor! Do Kwon, the CEO of Terraform Labs is hot on the Microstrategy CEO’s heels. The Terra wallet has now amassed almost $1.5 billion in Bitcoin (BTC) following another huge BTC purchase. The wallet address thought to belong to Terra (while not officially confirmed) received another 2943.00002511 Bitcoin ($139 million) on Wednesday. Wallet alert accounts on Twitter have been tracking the wallet. The wallet began amassing colossal amounts of Bitcoin on Jan. 21 and has not sold a single Satoshi. According to the chart, while the wallet first injected almost 10k Bitcoin on 21st Jan, the wallet …
Adoption / March 30, 2022
In this together: Musk and Saylor down a combined $1.5B on Bitcoin buys
As the bear market bites, holding crypto investments can be a tough pill to swallow. Consider two of the largest bag holders of publicly traded companies. They are down by almost $2 billion dollars on their Bitcoin (BTC) buys. According to Bitcointreasuries.net, the 130,000 and 43,00 Bitcoin held by Microstrategy and Tesla, respectively, are worth considerable sums less. For Microstrategy, Michael Saylor splashed out almost $4 billion ($3,965,863,658) on 129,218 BTC, approximately 0.615% of the 21 million total supply. The Bitcoin price nosedive has ripped away earlier gains: The investment is worth $3.1 billion ($3,074,987,824), a loss of $900 million. …
Adoption / June 13, 2022
First time Bear market? Advice from Bitcoin Bull Michael Saylor
First-time bear market? It’s also the first Bitcoin (BTC) bear market for Michael Saylor, one of the world’s biggest Bitcoin bulls. Executive chairman of one of the world’s largest pro-Bitcoin companies, Saylor took a moment out of his busy schedule at the Los Angeles Pacific Bitcoin conference to speak with Cointelegraph. Crucially, Saylor told Cointelegraph that when it comes to Bitcoin, “You have to take a long frame time perspective.” “If you’re buying [Bitcoin] and you’ve got less than a four-year time horizon, you’re just speculating in it. And once you’ve got more than a four-year time horizon, then the …
Bitcoin / Nov. 24, 2022
Marathon Digital stock reaches 6-year high as company HODLs $460M Bitcoin
U.S.-based crypto mining company Marathon Digital Holdings holds more than $460 million in Bitcoin mainly from mining and purchases since last year. According to a Nov. 2 report, the mining firm said it had been HODLing all Bitcoin (BTC) generated from its mining operations — roughly 2,640 BTC — since its last sale in October 2020. In addition, Marathon Digital purchased more than 4,812 BTC in January when the price of the crypto asset was under $35,000. At the time of publication, the BTC price is $62,056, giving the mining firm’s 7,453 BTC holdings a value of roughly $462 million. …
Bitcoin / Nov. 3, 2021
MicroStrategy buys the dip by purchasing 660 Bitcoin for $25M
Major Bitcoin (BTC) investor MicroStrategy has announced another major BTC purchase during a market dip to collect a total of 125,051 BTC as of Monday. According to an official form with the United States Securities and Exchange Commission (SEC) filed on Tuesday, MicroStrategy purchased 660 BTC between Dec. 30, 2021, and Jan. 31 for “approximately $25 million” in cash. The average BTC price of the purchase amounted to $37,865 per BTC, including fees and expenses, the report notes. As of Jan. 31, MicroStrategy held about $3.78 billion worth of BTC at the average purchase price of approximately $30,200 per BTC, …
Adoption / Feb. 1, 2022