MicroStrategy and its first year with bitcoin

MicroStrategy, the business intelligence and software company, has completed its first year with bitcoin.

Led by Michael Saylor, MicroStrategy was the first Nasdaq-listed company to join BTC as a primary reserve.

His first publicly disclosed purchase was 21,454 BTC for a total of about $250 million, which occurred when bitcoin was worth less than $10,000.

Analyst Willy Woo commented the next:

“Today, a year ago, Microstrategy announced its first purchase of BTC. Since then, it has purchased a total of 14 times, an average of once every 3.7 weeks. 0.56% of the total #Bitcoin stock is in your treasury”.

It’s a hoarding strategy by the business intelligence company, which has already seen half of its assets in bitcoin in the month following its declaration.

In fact, it was Saylor himself who said at the time that his intention was to keep bitcoin in the long run as a store of value, counting on a possible increase in value over time, unlike the US dollar whose real value over the years could decrease.

And so it happened! The ATH – All Time High of more than $60,000 hit by the BTC price in April 2021 and the subsequent collapse also due to China’s imposed ban on the sector were all events that took place during a year that started with the idea of ​​accumulation, and today has arrived.

MicroStrategy, Bitcoin and Michael Saylor

In a tweet pinned to the account of Saylor, co-founder of MicroStrategy, is one of his thoughts on Bitcoin, express in September 2020.

“Bitcoin is a swarm of cybernetic wasps serving the goddess of wisdom, feeding on the fire of truth, growing exponentially ever smarter, faster and stronger behind a wall of encrypted energy.”

Along these lines, it can also be said that MicroStrategy’s shares have to some extent followed the BTC price trend so far.

In late July 2021, MSTR shares closed at $682, ​​just as the BTC broke the $40,000 resistance. A level MicroStrategy hasn’t seen since April 28, 2021, a few days after BTC’s ATH.

Also on that date, Saylor announced that he intended to add more bitcoin to the 105,000 BTC he already had. All of this suggests that MicroStrategy’s future intention is to continue accumulating the queen of cryptocurrencies.

Source: MicroStrategy

Photo by Bruno Lugarini

Photo by Bruno Lugarini
The author: Bruno Lugarini

Student of Information Systems, computer technician, passionate about technology, enthusiast of cryptocurrencies and Nerd.