Digital Assets: Bitcoin PermaBull MicroStrategy Loads Up On Another $82M

December 9, 2021 | Digital Assets, News

MicroStrategy CEO Michael Saylor tweeted about the company’s latest purchase of bitcoin.

MicroStrategy (NASDAQ: MSTR), which is led by bitcoin evangelist Michael Saylor, has reeled in a fresh tranche of 1,434 bitcoins, paying about $82.4 million in cash at an average price of approximately ~$57,477 per bitcoin, according to a tweet from Saylor. (CryptoNews)

After this latest purchase, as on date, MicroStrategy holds about 122,478 bitcoins for which it paid approximately $3.66 billion at an average price of $29,861 per bitcoin.

Paper profit of $2.3 billion

Based on the current price of $48,699.15 per bitcoin, the company is sitting on a paper profit of about $2.31 billion.

According to an SEC filing, MicroStrategy financed the purchase of these bitcoins through the issue and sale of an aggregate of 119,828 Shares under an Open Market Sale Agreement with Jefferies LLC, at an average gross price per Share of approximately $693.10, for aggregate net proceeds to the Company (less sales commissions and expenses) of approximately $82.4 million.

Mike McGlone bullish on bitcoin

Meanwhile, another bitcoin bull, Bloomberg’s Senior Commodity Strategist Mike Mcglone tweeted that 2022 could usher in prices of $100,000 #Bitcoin, $50 #Oil, and $2,000 #Gold.

“Peaking commodities and the declining yield on the Treasury long bond point to risks of reviving deflationary forces in 2022, with positive ramifications on Bitcoin and gold,” he reasoned.

Related Story: MicroStrategy’s Saylor, El Salvador’s Bukele Both Buy The Bitcoin Dip

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Digital Assets: Michael Saylor Unmoved By Crypto Weakness; “We Think It’s The Future Of Money”
May 20, 2022     Digital Assets, News

Michael Saylor, CEO of MicroStrategy (NASDAQ: MSTR), who is permanently bullish on bitcoin, reiterated his positive outlook for the leading crypto in an interview on Thursday. Note that MicroStrategy currently…
Digital Assets: Traditional Markets Could Suffer Contagion From (Un)Stablecoins (SEC Chair Gensler)
May 20, 2022     Digital Assets, News

The crypto world was dealt a body blow by the collapse of the TerraUSD (UST) stablecoin earlier this month. The Terra meltdown is now being referred as crypto’s “Lehman moment.”…
Venture Capital: Big-Ticket Funding Rounds In Fintechs
May 20, 2022     FinTech, News, Venture Capital

Fast-growing, Southeast Asia-focused payments infrastructure platform Xendit closed on a US$300 million Series D funding co-led by Coatue and Insight Partners with additional investment from Accel, Tiger Global, Kleiner Perkins,…
FinTech: Sam Bankman-Fried Led FTX.US Makes Inroads Into Stock Trading
May 20, 2022     Digital Assets, FinTech, Latest News, News

FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected…