Microstrategy company buys 7,002 Bitcoins

Microstrategy company bought a total of 7,002 Bitcoins in the last market crash with $414.4 million funds. 

Microstrategy is a software firm but this company is highly bullish on Bitcoin and the company is continuously buying Bitcoin in every crash in the crypto market. 

Michael Saylor, CEO of Microstrategy firm, announced through Twitter that his company bought a total of 7,002 Bitcoins with a total of $414.4 million funds. So the average price of Bitcoin bought by Microstrategy firm is around $59,187. 

MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTRhttps://t.co/OA8VWG1bZX

— Michael Saylor (@saylor) November 29, 2021

So after this buy amount, Microstrategy owns a total of 121,044 Bitcoin, which has a total value of around $3.57 billion. 

Total buy of 121,044 Bitcoin cost around the average of $29,534 per coin. So we can say, Michael Saylor is in profit with a total of more than 50%.

In August 2020, Microstrategy CEO announced that the company will reserve its funds into Bitcoin with the majority of fractions because the company sees Bitcoin as the best asset to invest in the long term over the cash.

In the past few months, the company CEO raised his voice against the unlimited money printing supply indirectly and supported Bitcoin as the best asset to buy against the inflation of the global economy. 

Michael Saylor many times suggested to other tech companies to buy Bitcoin. According to Michael, Bitcoin is only a way to sustain the future of big tech companies, in particular, Michael said that Twitter, Tesla are already doing investments in Bitcoin and also trying to integrate the services in Bitcoin. Michael stressed that other companies needed to go with Bitcoin-related initiatives. 

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