Yesterday, Microstrategy made global headlines after its CEO, Michael Saylor, announced that the company had purchased an additional 13,005 Bitcoins for roughly $489 million in cash. Microstrategy’s most recent purchase of Bitcoin had an average entry price of $37,617 per BTC.
Microstrategy Buys Another 13,005 Bitcoins
This most recent purchase by Microstrategy adds to the 92,079 Bitcoin already held by the firm, thus bringing the total to approximately 105,085 BTC as of June 21st, 2021. Microstrategy’s entire holdings of Bitcoin come at an average entry price of $26.080.
As soon as the news hit of Microstrategy buying the additional 13k Bitcoins, crypto Twitter was abuzz with discussions that Mr. Saylor should have waited for the ongoing BTC dip to be over before making the purchase.
However, the team at Weiss Ratings believes that Mr. Saylor and Microstrategy are playing the long game with Bitcoin. They explained:
Those FUDing Michael Saylor need to understand: he’s playing the long game. His thesis is that fiat’s value evaporates faster than an ice cube under the sun. The hedge is to swap that melting ice cube for hard assets, and #BTC is unparalleled in this regard.
If possible, it would be even better to borrow some of those “melting ice cubes” and use them to buy #crypto while the weak hands run to the temporary safety provided by fiat. It’s pretty simple.
- Microstrategy CEO believes that Satoshi Nakamoto deserves a Nobel Prize in Economics
- Mr. Saylor also adds that Satoshi should receive another Nobel Prize for the invention of a monetary system that does not rest on the threat of violence
- Microstrategy recently bought 13,009 Bitcoins for $489 million
- Michael Saylor and Microstrategy are playing the long game with Bitcoin
The CEO of Microstrategy, Michael Saylor, is of the opinion that the creator of Bitcoin, Satoshi Nakamoto, deserves a Nobel Prize in Economics. Mr. Saylor went further and added that the creator of Bitcoin should receive another Nobel Prize ‘for the invention of a monetary system that doesn’t rest on the threat of violence’.
Mr. Saylor’s recommendations for awarding Satoshi the aforementioned Nobel Prizes can be found in the following Tweet.
Satoshi Nakamoto deserves the Nobel Prize in Economics for the invention of #Bitcoin, followed by the Nobel Peace Prize for the invention of a monetary system that doesn’t rest on the threat of violence. https://t.co/C7Qr9Otdvt
— Michael Saylor (@michael_saylor) June 17, 2021