(Last Updated on December 21, 2020)
Finishing the year off strong is an understatement..
Michael Saylor and MicroStrategy have BULLDOZED a new path for American corporations in 2020!
Pioneering Bitcoin’s new “treasury reserve asset” status has changed the future of finance in America forever.
Proving it can be done with SEC approval and within legal framework just opened the doors for any other corporations to follow suit. There may have never been a better time for this movement to arise, with massive money printing on the rise, more uncertainty regarding COVID and government corruption.
70,470 Bitcoins now owned by MicroStrategy!
TYSONS CORNER, Va.–(BUSINESS WIRE)–Dec. 21, 2020– MicroStrategy® Incorporated (Nasdaq: MSTR) (the “Company”), the largest independent publicly-traded business intelligence company, today announced that it had purchased an additional approximately 29,646 bitcoins for approximately $650.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $21,925 per bitcoin, inclusive of fees and expenses.
As of December 21, 2020, the Company holds an aggregate of approximately 70,470 bitcoins, which were acquired at an aggregate purchase price of approximately $1.125 billion and an average purchase price of approximately $15,964 per bitcoin, inclusive of fees and expenses.
At 12:00 midnight on December 21, 2020, the market price of bitcoin reported on Coinbase was approximately $23,910 per bitcoin.
“The Company continues to operate in accordance with its Treasury Reserve Policy and currently holds approximately 70,470 bitcoins,” said Michael J. Saylor, CEO, MicroStrategy Incorporated. “The acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value. We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price.”– MicroStrategy PR Release Final Bitcoin Buys 2020
Time will tell just how influential Michael Saylor’s Bitcoin buying streak has been. I know many investors are theorizing on just how impactful 2021 will be on BTC price and market cap.
2021 will be a wild ride for market cap IF we see major adoption from additional tech companies utilizing a new reserve asset.