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9 months ago
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ARTICLE AD BOX
Throughout the month of January, Michael Saylor’s MicroStrategy firm purchased an additional 850 Bitcoin, amounting to roughly $37.2 million.
Currently, the firm possesses 190,000 Bitcoins, acquired at a total expense of $5.93 billion. Despite this, the firm’s total revenue has decreased by 6% year-over-year.
Saylor Takes Advantage of Bitcoin Volatility, Adopts AI
In a recent report, it was highlighted that MicroStrategy had a successful year last year, with emphasis placed on their adoption of artificial intelligence (AI) for business intelligence strategies.
“2023 was an extraordinary year for MicroStrategy as we strategically raised capital to significantly increase our bitcoin holdings, and continued to innovate, including by developing and launching MicroStrategy AI, our first to market AI-based BI tool.”
Read more: Bitcoin Price Prediction 2024/2025/2030
Furthermore, the firm declared that since the end of September 2023, they have acquired a significant amount of Bitcoin, taking advantage of the market volatility to record an average purchase price below what the current price of Bitcoin is today.
“31,755 bitcoins acquired since the end of Q3 for $1.25 billion, or $39,411 per bitcoin.”
Meanwhile, at the time of publication, Bitcoin’s price is $43,081. The average price that MicroStrategy has recorded Bitcoin is approximately 9% lower than today’s price.
Bitcoin Price Chart 1 Month. Source: BeInCryptoMichael Saylor’s Recent Bitcoin Statements
However, in December 2023, Saylor declared that the recent approval of the spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC) surpasses most traditional finance developments seen over the past few decades.
“Its not unreasonable to suggest that this may be the biggest development on Wall Street in the last 30 years.”
Read more: What Is A Bitcoin ETF?
More recently, it was reported that Saylor has been exploring selling MicroStrategy stocks.
On January 3, BeInCrypto reported Saylor engaged with the regulator to exercise MicroStrategy stock options. According to the filing, he held 315,000 shares worth around $216 million.
However, in a fourth-quarter conference call, Saylor explained that he was granted a stock option in 2014 for 400,000 shares.
The post Michael Saylor’s MicroStrategy Purchased $37.2M Bitcoin in January appeared first on BeInCrypto.
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