When it comes to buying bitcoin, especially institutional buying, Michael Saylor\u2019s MicroStrategy always has its place in the discussion. Since Saylor himself is a known Bitcoin (BTC) evangelist, how could his business intelligence company lag behind in buying the top cryptocurrency.\u00a0<\/p>\n
In September 2022, MicroStrategy announced selling of their stocks intending to raise capital for buying more bitcoin. It was reported that the company was willing to raise 500 million USD to fulfill the plan.\u00a0<\/p>\n
Rarely any company has any such aggressive take on buying top cryptocurrency in comparison to MicroStrategy. The company said for the buying of bitcoin at the time, shareholders would be held responsible to manage the expenses.\u00a0<\/p>\n
When in September, in its stock-sale filings MicroStrategy released its balance sheet which the company noted its overall bitcoin holdings consisted 129,677 BTC. By that time, the overall BTC stash was valued at 3.78 billion USD according to the contemporary cost of bitcoin<\/a>.\u00a0<\/p>\n Following the stock sale, the raised fund of 500 million USD was expected to buy about 22,500 bitcoins given the price at the time. This would end up making an increase of approx 17% in bitcoin holdings of that time.\u00a0<\/p>\n After a few days, MicroStrategy reported to buy 301 bitcoin worth 6 million, which made the bitcoin holdings cross 130K BTC in total.\u00a0<\/p>\n MicroStrategy has one of its prominent stated corporate strategies to buy bitcoin. It goes alongside the main business of being an enterprise analytics firm. This is because the firm follows the notion of executive chairman and co-founder Michael Saylor. He thinks of bitcoin <\/a>as one among the crucial and effective hedge options against the soaring inflation. As the crypto market will mature in the future, the leading cryptocurrency will also go stronger with time as well and it will be reflected over its value.<\/p>\n During the earning call of second-quarter in August, Saylor said the ongoing crypto rationalization wave along with the regulation and innovation could turn out to be healthy for the industry in its infancy. It could get better with time over the mid-term as well as in the long term.\u00a0<\/p>\n To put it straight, if bitcoin is going to see a significant growth in upcoming times, then MicroStrategy will also enjoy its part of success given its huge investment within the major crypto asset. However, the year has been quite stressful for the crypto market\u2014both cryptocurrencies and crypto investors.\u00a0<\/p>\n Since the crypto prices were at quite low levels, it would only be good from buyers perspective only. So if the bitcoin <\/a>strategy of Michael Saylor and MicroStrategy has any chances to work out in future, then the year might turn out to be the time for massive wealth building. In contrast, if things go south, then it could be remembered as one of the most costly mistakes.\u00a0<\/p>\n Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.<\/p>\n<\/div>\n<\/section>\nMicroStrategy BTC Holdings Crossed 130K Mark!<\/strong><\/h2>\n
Is MicroStrategy on an Extreme?<\/strong><\/h2>\n
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