Michael Saylor, whose technology company MicroStrategy invested $ 425 million in Bitcoin, revealed his personal holdings in Bitcoin in a tweet
MicroStrategy CEO Michael Saylor has revealed how much Bitcoin he personally owns. In a tweet, Saylor said “I personally #hodl 17,732 BTC that I bought for $ 9,882 each, on average.”
Some have asked how much #BTC I own. I personally #hodl 17,732 BTC which I bought at $ 9,882 each on average. I informed MicroStrategy of these holdings before the company decided to buy #bitcoin for itself.
– Michael Saylor (@michael_saylor) October 28, 2020
Running the numbers, it means that Saylor spent $ 175,227,624 on Bitcoin, which is currently worth $ 236,291,312 at today’s Bitcoin price.
Saylor also added that he informed the company about this before making any personal Bitcoin purchases: “I informed MicroStrategy about these holdings before the company decided to buy Bitcoin for itself.”
Conversion to Bitcoin
Saylor has become a strong supporter of Bitcoin, in a remarkable turnaround from his earlier views on cryptocurrency. In 2013, he stated that the “days of Bitcoin are numbered” and compared it to the online game.
He has since changed his mind, calling Bitcoin “a million times better than gold”. Under his guidance, MicroStrategy has become one of the leading institutional investors in Bitcoin, investing $ 425 million in Bitcoin since August this year.
This shopping spree must continue; in a recent conference call about its earnings in the third quarter, MicroStrategy revealed that it plans to continue buying Bitcoin. During the call, Saylor pointed to the recent adoption of Bitcoin by PayPal and Square as being a “legitimation” for the cryptocurrency.