Wall Street goes crazy buying Bitcoin

In December 2023, Michael Saylor disclosed on the X platform that MicroStrategy once again acquired 14,620 Bitcoins for US$615.7 million, with an average price of US$42,110.

During MicroStrategy's quarterly earnings call in July 2020, Saylor announced his intention for MicroStrategy to explore buying Bitcoin, gold or other alternative assets rather than holding cash. The following month, MicroStrategy used $250 million of its cash reserves to purchase 21,454 Bitcoins. And this is just the beginning.

MicroStrategy subsequently increased its holdings of $175 million in Bitcoin in September 2020 and an additional $50 million in early December 2020. On December 11, 2020, MicroStrategy announced that it had sold $650 million in convertible senior notes, raising debt to increase its Bitcoin holdings to a value of more than $1 billion. MicroStrategy announced on December 21, 2020 that its total holdings included 70,470 Bitcoins purchased for $1.125 billion, at an average price of $15,964 per Bitcoin. As of February 24, 2021, Bitcoin holdings included 90,531 Bitcoins acquired for $2.171 billion, with an average price of $23,985 per Bitcoin. Saylor, who controls 70% of MicroStrategy, dismissed observers’ concerns that the move would turn MicroStrategy into a Bitcoin investment company or exchange-traded fund (ETF).

Between October 1 and November 29, 2021, MicroStrategy purchased 7,002 Bitcoins for approximately $414.4 million in cash, with an average purchase price of $59,187, bringing its total holdings to 121,044 Bitcoins. In 2022, Saylor resigned as CEO and continued as executive chairman, but his purchases of Bitcoin did not stop.

As of December 30, 2023, MicroStrategy now holds 189,150 BTC, acquired for approximately $5.9 billion, with an average price of $31,168. #比特币BTC