Answering the queries on how much Bitcoin he owns, the Microstrategy CEO Michael Saylor said that he has a personal accumulation of about 17,732 Bitcoins.
Recently Microstrategy made a massive 450 Million USD investment in Bitcoin as its currency reserve, making it one of the biggest institutional investments in Cryptocurrency.
Now the CEO has revealed that he Hodls a large number of Bitcoins, which he bought at a price of around 9882 US dollars. He also said that he had declared all his Bitcoin holdings before the company bought a massive amount of Bitcoins as an investment tool.
Michael Saylor Gained Massively With His Bitcoin Hodling
He explained that his Bitcoin reserve is now more than 230 Million USD since the Bitcoin value has surged to high levels of above 13000 USD in recent times, making his profit of around 55.3 Million.
Saylor went ahead to throw some light on Microstrategy’s future plans pertaining to Bitcoin after the whopping Investment was made last month. He hinted that the company is planning to buy more Bitcoins. The company may add to its $521 Million USD Bitcoin stash as the recent BTC price surge giving a lot of profit to the company.
Microstrategy To Procure More BTC
Phong Li, the President of the company, said that the company would buy more bitcoins to generate extra cash to run the business. During the annual investors call, after sharing the Q3 revenue results, he said that the company recorded 6.4 percent a year by year growth. They received a highly profitable 22 percent return on the Investment of bitcoin and thus may seek more Investment in cryptocurrencies in the future.
He added “This is benefitting our reputation overall, raising our mindshare among prospective customers.”
Bitcoin Price Will Surge In Future
Saylor annihilated that the Bitcoin,with the spree of companies and their CEO buying a substantial amount of Bitcoins, there may be a stage when there is not enough Bitcoin in circulation for everyone to procure. He said thus, the increase in demand and lack in supply would only take the price of Bitcoin higher.
Additionally, CEO Saylor, fostering his support for Bitcoin, said that bitcoin investments and dividends are paying well and helping in various areas like branding, marketing, and recruitment. He said that the Bitcoin network is like “a digital monetary network that doesn’t bleed monetary energy.”