Binance CEO ‘CZ’ Tweets in Support of Michael Saylor’s Bitcoin Purchase

• It currently owns 129,699 BTC at an average price of $30,664.
• the Bitcoin price today is $19,369.60 USD.

A further 480 BTC worth $10 million was acquired by MicroStrategy’s CEO Michael Saylor at an average price of $21,817 per bitcoin. It currently owns 129,699 BTC at an average price of $30,664 and a $3.8 billion valuation. However, MicroStrategy’s current treasury bitcoin holdings are worth $2.5 billion.

After the BTC price plummeted during the current market panic, the CEO has come under criticism for his unwavering support for bitcoin. In a recent interview with Bloomberg, Saylor addressed bitcoin in general but also underlined his list of ten prerequisites bitcoin needs to become a better asset in the next decade.

Saylor Will Have the Last laugh as per CZ

Changpeng Zhao, CEO of Binance, has backed MicroStrategy CEO Michael Saylor, saying that the latter would have the last laugh. Many individuals mocked Saylor for investing again despite BTC prices falling consistently.

Considering the business intelligence organization is resting on significant losses of over $1 billion, the brave acquisition was welcomed with contempt. According to CMC, the Bitcoin price today is $19,369.60 USD with a 24-hour trading volume of $23,351,589,622 USD. Bitcoin has been down 3.70% in the last 24 hours.

The 129,698 coins owned by the Virginia-based firm are now worth $2.6 billion at today’s exchange rates. Bitcoin purchases were funded in March through a loan obtained from Silvergate. Despite this, Saylor assured investors that a margin call was not imminent, brushing aside concerns about the emergence of another black swan. The dynamic entrepreneur said that his business would only be forced to post extra collateral if Bitcoin dropped to a price of $3,500 or below.

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