• Michael Saylor’s MicroStrategy made its first bitcoin purchase three years ago and now holds nearly 153,000 BTC.
• Saylor remains bullish on Bitcoin and believes its value could exceed $1 million per coin.
• MicroStrategy initially hinted in July 2020 about its plans to invest in assets such as bitcoin or gold rather than holding cash, with the company later deciding to buy BTC worth $250 million.
Michael Saylor’s Bitcoin Investment
Three years ago, Michael Saylor’s business intelligence giant, MicroStrategy, made its first historical bitcoin purchase. Now they hold nearly 153,000 BTC. Saylor remains bullish on Bitcoin and believes its value could exceed $1 million per coin.
Initial Hints of Investment
In July 2020 MicroStrategy hinted at their plans to invest in assets like bitcoin or gold instead of cash to escape inflation. After careful consideration, the company decided to buy 250 million worth of BTC and adopted it as their primary treasury reserve asset.
The volatile price movements of Bitcoin caused the company to make numerous investments over the course of three years resulting in their large stash of coins today. In June 2023, MicroStrategy purchased 12,333 BTC for an average cost of around $45K each.
Benefits & Advantages
Saylor saw many benefits and advantages from investing in Bitcoin which is why he encouraged his company to do so: a better hedge against inflation; higher return on investment compared to other assets; and increased security due to blockchain technology that supports Bitcoin transactions.
MicroStrategy has been able to collect a large number of coins over the past three years through multiple investments despite the volatility of Bitcoin prices during this time period. With Michael Saylor’s continued confidence in the cryptocurrency’s potential for future growth, we can expect more big moves from him going forward.