BTC Grand Slam – MicroStrategythe company founded by Michael Saylor, has succeeded in accumulate 140,000 BTC by regularly buying Bitcoin every quarter since August 2020. Despite market fluctuations and the crypto winter we are all going through, MicroStrategy has stayed true to its strategy and even increased its BTC holdings for 11 consecutive quarters.
Bitcoin and MicroStrategy: a winning strategy
Let’s go back in time a bit. Michael Saylor’s company began to buy bitcoin when he exchanged $21,000 in August 2020 and has continued to accumulate the queen of cryptocurrencies ever since. In fact, therefore, MicroStrategy holds the largest reserve of BTC, acquired at an average price of $29,803allowing it to sit on a minor unrealized loss.
In details, MicroStrategy said its BTC purchases were an integral part of its new capital allocation strategy, aiming to maximize long-term value for its shareholders. The company considers the Bitcoin as a reliable store of value and an attractive investment asset.
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A crypto winter that does not discourage MicroStrategy
The bear market that started in 2022 did not deter MicroStrategy, which therefore continued to increase its BTC holdings, even during the second and fourth quarters of the year, when the market experienced crashes. In 2022, the company acquired in this dynamic more than 8,200 BTC.
The start of 2023 was also positive for MicroStrategy, which acquired 7,500 BTC additional. The recent rise in the price of Bitcoin has also allowed the company to make a profit in the first quarter of the year. Tax benefits from the company’s BTC holdings also contributed to these profits.
This MicroStrategy strategy therefore seems to be a winning bet for the company which holds one of the largest reserves of BTC. Witnessing slow but real adoption Michael Saylor, founder of MicroStrategy went so far as to integrate the Bitcoin Lightning Network into their professional email address.
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