Saylor’s words to go with the image is an invitation: “Take a bite.” The simple three-word sentence embodies all that the MicroStrategy cofounder stands for, per Bitcoin. Notably, under the leadership of Saylor, MicroStrategy remains bullish on the acquisition of the asset regardless of market price.
Recently, the business intelligence firm made a Bitcoin purchase of a staggering 11,931 Bitcoin worth $786 million at an average price of $65,883 per coin. This has helped trigger a shift in the price in recent times.
Per CoinMarketCap data, Bitcoin is currently trading at $61,402.17, up by 0.47% in 24 hours.
Ordinarily, while some investors may consider this a loss, Saylor is not deterred in his bullish acquisition strategy. Interestingly, the average Bitcoin purchase price for MicroStrategy stands at $36,798, a huge profit margin for the firm.
The MicroStrategy boss insists that investors should adopt his principle on the digital asset, “Bitcoin: never sell.”
Per the U.Today report, after the recent buy, MicroStrategy’s stash now stands at 226,331 Bitcoin acquired for $8.33 billion. Some of the purchases were financed through proceeds from convertible senior notes and excess cash.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
