MicroStrategy bought close to 9000 BTC in Q3, stash now worth $7 billion


MicroStrategy has revealed that it bought additional 9,000 units of Bitcoin ( $60,115.00 ) during the third quarter of the year, bringing the worth of its holdings to around $7 billion.

Microstrategy now holds 114,042 Bitcoin ( $60,115.00 )

According to the company’s Q3 report released on October 28, the intelligence firm holds a total of 114,042 Bitcoin ( $60,115.00 ) at an average purchase price of $27,713, which roughly translates to over $3 billion.

However, if its holdings are converted to the current price of the crypto king, which as of press time is above $60k, it means the worth of its BTC holding would be around $7 billion, meaning the company would make a profit of close to $4 billion if it chooses to sell its BTC.

But despite the lure of the gains, MicroStrategy will not be selling any of its Bitcoin ( $60,115.00 ) , at least for any time soon as its CEO Michael Saylor reaffirmed that the firm would continue to look for ways to continue its Bitcoin ( $60,115.00 ) purchase dream.

In his words:

“We will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin ( $60,115.00 ) strategy.”

It should be noted that the firm posed an impairment loss of $754.7 million on its BTC acquisition, but this is only a loss mandated to be reported whenever the value of an asset dips below its cost.

Michael Saylor remains bullish about Bitcoin ( $60,115.00 )

The CEO of MicroStrategy, Michael Saylor, remains one of the most popular names and faces associated with Bitcoin ( $60,115.00 ) as he has severally made lots of pro-crypto efforts.

Just yesterday, he made several tweets telling his millions of followers not to sell their Bitcoin ( $60,115.00 ) .

You do not need to sell your #bitcoin. https://t.co/dwWaSCVgPa

— Michael Saylor⚡️ (@saylor) October 28, 2021

He also recently posited that:

“When large U.S. banks are able to hold #bitcoin  on their balance sheets, everyone will want to buy it, no one will need to sell it, and you won’t be able to afford it.”

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