important point
- Bitcoin is trading above $30,000.
- MicroStrategy’s average purchase price is $29,803 per Bitcoin
- The company currently holds 140,000 BTC, worth over $4.2 billion at the time of writing.
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MicroStrategy co-founder Michael Saylor’s Bitcoin position is no longer under water. With bitcoin trading around $30,200 and his average purchase price per bitcoin of $29,803, Thaler is now officially green.
$4.2 billion in BTC
Bitcoin’s recent price performance is good news for one of its biggest supporters.
The top cryptocurrency surpassed $30,000 late last night, its highest level since June 2022. At the time of writing, BTC is trading at around $30,200, just above MicroStrategy’s average purchase price of $29,803 per bitcoin.
MicroStrategy is a business intelligence software company. In August 2020, MicroStratregy co-founder (and his CEO at the time) Michael Saylor announced for the first time that the company had converted some of its cash holdings into Bitcoin due to inflation concerns. Thaler went on to buy a lot of bitcoin and became notorious for his relentless bitcoin advocacy. “Mortgage your house and buy more bitcoin,” he famously said in his 2021.
MicroStrategy continued to accumulate bitcoin after the price plummeted. On March 27, the company acquired another 6,455 BTC for around $150 million, with an average price of $23,238 per coin. A week later, MicroStrategy purchased An additional 1,045 BTC is around $29 million with an average price of $28,016 per coin. The company currently holds 140,000 BTC, making him worth over $4.2 billion at the time of writing.
Thaler stepped down as MicroStrategy CEO in August 2022 and was replaced by MicroStrategy President Phong Le. Thaler retained his position as the company’s executive chairman and was responsible for focusing on “the Bitcoin acquisition strategy and related Bitcoin advocacy initiatives.”
Disclosure: At the time of writing, the author of this work owned BTC, ETH, and several other crypto assets.