MicroStrategy Acquired Nearly 9000 BTC During Third Quarter

MicroStrategy acquired nearly 9000 BTC in the third quarter of the year between July and October at an average price of $46,876 as we are reading more in today’s Bitcoin news.

The business intelligence corporation Microstrategy acquired nearly 9000 BTC in the third quarter of the year and now the company holds around $7 billion worth of the main digital asset. MicroStrategy announced the results in the Q3 earnings report and according to it, the company acquired 8957 BTC between July and October to a cost of $420 million while the average price per coin was set at $46,876. now, the entire stash reached 114,042 BTC while the USD value of the leading cryptocurrency stands at $61,000 which means the company’s holdings are worth a little over $7 billion.

The company announced it had increased its BTC possessions by almost 200% since the same timeframe in 2020. The prominent BTC bull Michael Saylor who is the Chief Executive Officer at MicroStrategy described the company as the world’s biggest publicly traded corporate owner of the asset. He asserted that the organization will keep its pro-BTC stance as it acquires more tokens in the future:

“We will continue to evaluate opportunities to raise additional capital to execute on our bitcoin strategy.”

Acquire and Hold BTC is one of the biggest goals of MicroStrategy. His purchase of BTC through the use of excess cash flows and debt transactions, holding the main crypto for the long term, and providing the leadership the community needs are the three pillars of the company.
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Saylor is one of the main proponents of BTC and in a recent appearance he asserted his support saying that there’s no force that can make him sell the tokens whether his personal ones or those of the company. As a true advocate of the asset, he opposed Peter Schiff who is a well-known critic of the crypto industry, claiming that BTC is an asset that has bigger potential to make you poor. Saylor on the contrary said, there’s a bigger chance to become rich by buying BTC than buying gold.

To prove his point, Saylor added that people can generate wealth if they invest in big tech digital networks that everybody needs but nobody understands. It sounds like the right description of BTC, Google, Amazon, and Facebook.