MicroStrategy: first year with BTC
2 min readMicroStrategy, a software company, has completed its first year with BTC. Led by Michael Saylor, it was the first listed company on the Nasdaq to integrate BTC as its primary reserve.
Its first published purchase was BTC 21,454 for a total of about $ 250 million, which occurred when BTC was less than $ 10,000.
Analyst Willy Woo commented as follows:
“Exactly a year ago, Microstrategy announced its first purchase of BTC. Since then, she has bought a total of 14 times, on average once every 3.7 weeks. 0.56% of BTC’s total offer is deposited at its box office. “
It is an accumulation strategy on the part of a business intelligence company, which already had half of its assets in BTC a month after its announcement.
In fact, it was Saylor himself at the time who stated that his intention was to hold BTC for a long time as a store of value, anticipating a possible increase in value over time, unlike the US dollars, whose real value may have declined over the years.
And so it happened!
MicroStrategy, BTC and Michael Saylor: more today than yesterday
Pinned tweet on the account of Saylor, co-founder of MicroStrategy, is one of his thoughts on BTC, expressed last September 2020.
“Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.”
In this sense, it can also be said that the shares of MicroStrategy to some extent followed the current price trend of BTC.
At the end of July 2021, MSTR shares closed at $ 682, just as BTC broke through resistance at $ 40,000. A level that MicroStrategy has not seen since April 28, 2021, a few days after ATH BTC.
Saylor also announced that day that it intends to add more BTC to its 105,000 BTCs, which it already owns. All this suggests that the future intention of MicroStrategy is to continue to accumulate the largest cryptocurrency.
