As a researcher with a background in finance and technology, I find Michael Saylor’s latest tweet intriguing. His company, MicroStrategy, continues to make significant Bitcoin acquisitions despite the volatile price movements in the market. The fact that they have acquired another large lump of 11,931 BTC, paying approximately $786 million for it, shows their long-term commitment to Bitcoin as a strategic asset.
Michael Saylor, an influential advocate for Bitcoin and the co-founder of MicroStrategy, the prominent business intelligence firm, has shared a fresh tweet that has sparked curiosity within the Bitcoin community.
More recently, MicroStrategy, led by Saylor, made another significant purchase of Bitcoins, but the price of Bitcoin saw a decline.
Michael Saylor hints at MicroStrategy’s new logo?
Famous businessman and Bitcoin advocate Saylor shared an illustration on Twitter featuring a whimsical, anthropomorphic creature apparently consuming coins labeled “Bitcoin.” Saylor captioned the post, “Could this be our new logo?”
New Logo?
— Michael Saylor⚡️ (@saylor) June 21, 2024
The tweet ignited a passionate debate among X users in the comment section, as they questioned whether this represented a “new brand symbol” for MicroStrategy, given that the creature depicted in the image is consuming Bitcoin – much like Saylor’s firm, which has been actively buying large quantities of BTC.
MicroStrategy acquires more Bitcoin
This week, Michael Saylor revealed that MicroStrategy had acquired an additional large amount of Bitcoin – specifically, 11,931 BTC at an approximate cost of $786 million. With this latest purchase, the company now holds a remarkable total of 226,331 Bitcoins, valued at approximately $8.33 billion.
As an analyst, I’d put it this way: I purchased Bitcoin at an average cost of $65,883 per coin. Currently, MicroStrategy holds the most Bitcoin among corporations, significantly surpassing its competitors in this regard.
Due to the successful completion of a recent fundraising round, where the company secured $800 million through the issuance of convertible senior notes to investors, this substantial Bitcoin purchase became feasible. The original intention was to procure around $500 million worth of Bitcoin and allocate the remaining funds towards operational costs.
However, later, the goal was expanded from $500 million to $800 million.
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2024-06-21 18:05