Michael Saylor adds 1,434 Bitcoins to his company

Microstrategy added 1,434 Bitcoins to the reserved fund of the Company. Now holding a total of 1,22,478 Bitcoins. 

Microstrategy is a software firm and this company found that Bitcoin is the best tool to fight against inflation. Due to a better influence because of the technology of blockchain, Microstrategy company is buying Bitcoins almost in every crash of the crypto market. 

On 9 December, Michael Saylor, CEO of Microstrategy company, announced that Microstrategy bought additional 1,434 Bitcoins with a total value of $82.4 million. 

MicroStrategy has purchased an additional 1,434 bitcoins for ~$82.4 million in cash at an average price of ~$57,477 per #bitcoin. As of 12/9/21 we #hodl ~122,478 bitcoins acquired for ~$3.66 billion at an average price of ~$29,861 per bitcoin. $MSTRhttps://t.co/Xke8QhoYpy

— Michael Saylor (@saylor) December 9, 2021

So now Microstrategy is holding a total of 1,22,478 bitcoins. As we know that Microstrategy has been buying Bitcoins for a long time, so the company is in profit. Now the average price of Bitcoin, that Microstrategy is holding, is $29,861 only. 

So, now the company is in profit by around 50%. 

Michael Saylor on Bitcoin 

Michael Saylor is now a popular proponent of the Bitcoin community, who never forgot to mention Bitcoin in his daily lifestyle. 

In the past, Michael suggested to all tech companies to hold Bitcoin in their balance sheet or at least integrate their services with Bitcoin, so that tech companies may follow the future trend in advance and can take the advantage of Bitcoin. Michael took the example of Twitter, Square, CashApp, Tesla-like companies and said that these companies are already doing work with Bitcoins. 

In the last month, Michael pointed out the situation of the Turkish Lira and said that Turkey can save Lira by swapping it into US dollars. And also Turkey can swap it into Bitcoins directly to gain much better, in reverse of the current situation. 

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