MicroStrategy Buys Another 660 Bitcoin in January

MicroStrategy Buys Another 660 Bitcoin in January

CEO of MicroStrategy Michael Saylor is one of the world’s most active advocates of Bitcoin and it’s future, but not only does he talk about it, he takes consistent action.

In a recent interview with Bloomberg Saylor explained that by adopting a Bitcoin strategy he saved his company which was losing 10-25% in cash value per year due to inflation.

Because MicroStrategy started buying Bitcoin when the price was around $10,000 they still have a profitable crypto balance sheet even as crypto continues to drop.

This purchase of another 660 Bitcoins throughout the month of January is nothing new, as Saylor has stated that most of the profits from MicroStrategy flow directly into acquiring more Bitcoin.

With 125,051 Bitcoins MicroStrategy currently holds the 3rd largest amount of Bitcoin out of any global public corporation.

The value of their holdings is currently at $3.78 billion but when the price of Bitcoin was over $60k, their holdings were hovering around $7 billion.

This Bitcoin strategy has also been instrumental to the growth of MicroStrategy stock ($MSTR) 5X in the last 2 years and looks like it will continue to benefit the company.

Related: Cathie Wood Expects Ethereum To Hit $170k Per Coin By 2030

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