MicroStrategy has spent $2.7B on buying bitcoin over current prices
Michael Saylor has led MicroStrategy to purchase bitcoin above current prices on no less than nine separate occasions.
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Michael Saylor has led MicroStrategy to purchase bitcoin above current prices on no less than nine separate occasions.
This month alone, Michael Saylor has sold over $70 million worth of MicroStrategy stock, while in March he sold $144 million.
According to its most recent 8K, MicroStrategy, holds 214,246 bitcoins -- between 1.3% and 1.8% of all bitcoin that can ever be moved.
MicroStategy claimed in December that it would sell its bitcoin before offloading more shares. Since then, it's sold $339 million in shares.
MicroStrategy says revenues from its analytics business may not be enough to pay its debts and it may have to sell its bitcoin or more shares.
Michael Saylor, chairman of MicroStrategy, candidly explained why he went all-in on bitcoin... and what happens if the firm goes broke.
According to BlockchainCentre.net, MicroStrategy’s 130,000 bitcoins are worth $2.7B — impressive if it hadn’t spent $4B on acquiring them.
MicroStrategy is at least 23% down on its bitcoin holdings but says it will be selling up to $500 million worth of its stock to buy more.
Michael Saylor is stepping down as MicroStrategy's CEO to become executive chairman, where he'll focus on bitcoin 'evangelism.'
Is bitcoin a rich man's casino? Comparing price action with moves by major players seems to confirm they can indeed shift the bitcoin market.