MicroStrategy To Hunt Down More Bitcoin

MicroStrategy will not halt regarding its chase to acquire and hodling Bitcoin anytime sooner, as per a letter to investors from Michael Saylor.
Michael Saylor’s MicroStrategy is the biggest single wallet holder of the crowned crypto asset with 129,218 BTC in their bags.
As of now, Bitcoin was trading at a market value of $40,150.2, bearish by 2.36% in previous 24 hours.

Hot Pursuit !!

Michael Saylor, CEO of MicroStrategy has proclaimed stockholders that the organization will continue to go after Bitcoin and keep accumulating and hodl onto it.

MicroStrategy is the biggest single wallet holder of BTC all over the globe currently having 129,218 Bitcoin as per a wallet tracer. Those coins at present hold a value worth $5.1 Billion. The organization bagged 4,197 more coins back on April 5.

In contrast, Elon Musk’s Tesla, runner up of MicroStrategy in hodling relay, have 43,200 Bitcoin which is worth $1.7 Billion.

In Proxy Statement of MicroStrategy in 2022 was filed with Securities and Exchange Commissions on 14th April, Michael Saylor complimented his organization’s continuous success in being early to include Bitcoin to its treasury, translating to a profitability of $1.2 Billion.

The Shareholders Letter

Michael Saylor stated in the shareholders letter that, their parallel plans to bag and hold BTC remains a massive success.

The letter also says that, MicroStrategy’s Bitcoin holdings are flourishing, but made it problematic for organization’s execs to obtain liability insurance. As a result, MicroStrategy CEO has offered insurance out of his own pocket.

Michael Saylor’s 68.1% ownership in the organization means he can pretty much do what he desires regarding company, which also assists in explaining why more organizations have not followed his trail. He remains among the most vocal Bitcoin proponents since 2020, and utilizes his position to reach international audiences.

On 29th March, MicroStrategy stated that it would utilize $205 Million obtained in a BTC-collateralized loan from Silvergate Bank to acquire more Bitcoin. Michael Saylor stated in an announcement that the loan tagged the initial time his organization was utilizing BTC holdings as “productive collateral.”

In spite of international headwings from Russian invasion of Ukraine, interest and inflation rose. Do Kwon’s Terra (LUNA) and MicroStrategy bagging tens of millions of worth of crowned asset at a time has assisted in maintaining some confidence in values.

As this article was being written, Bitcoin was getting pulled down by the bears, trading at a market value of $40,150.2, down by 2.36% in previous 24 hours.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing