{"id":474949,"date":"2021-10-29T17:00:04","date_gmt":"2021-10-29T17:00:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=474949"},"modified":"2024-06-11T13:59:55","modified_gmt":"2024-06-11T13:59:55","slug":"microstrategy-increasing-bitcoin-bet","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/microstrategy-increasing-bitcoin-bet\/","title":{"rendered":"MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO"},"content":{"rendered":"<p class=\"p1\">MicroStrategy has been bullish from the start evidenced by its bitcoin purchases. The firm owns over 110 bitcoins and has deepened its crypto bet at various times during the past year. The tech firm has continuously raised money at various points to purchase more BTC to add to its balance sheet and there is no sign of stopping anytime soon according to CEO Michael Saylor.<\/p>\n<p class=\"p1\">Saylor has, numerous times, reiterated the company\u2019s bullish stance on BTC. The CEO himself is a bitcoin maximalist with a personal and corporate stake in the digital asset.<span class=\"Apple-converted-space\">\u00a0 <\/span>The company has so far raised almost $400 million to fund its purchases this year and has seen tremendous gains from its investment.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-exchange-balances-decline\/\">Bitcoin Exchange Balances Decline To Three-Year Low Amid Rising Prices<\/a><\/strong><\/em><\/p>\n<h2 class=\"p1\">MicroStrategy Buys 9,000 BTC<\/h2>\n<p class=\"p1\">MicroStrategy once again raised its bitcoin bet with its most recent purchase. In October, the company <a href=\"https:\/\/www.coindesk.com\/business\/2021\/10\/28\/microstrategy-added-almost-9000-bitcoins-to-its-holdings-in-third-quarter\/\" rel=\"nofollow\">announced<\/a> that it had purchased an additional 9,000 BTC to its already impressive holdings. MicroStrategy had taken its usual route to purchase its latest lot of the digital asset, staking that the purchase was made possible by \u201csuccessfully raising capital in the quarter through our at-the-market equity offering.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/aNjShr0Q\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"1354\" height=\"686\"><\/p>\n<pre style=\"text-align: center\">BTC trading above $62K | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/UG2tjOD6\/\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p1\">The latest purchase brings MicroStrategy\u2019s BTC holdings to a total of 114,042 BTC. The company is still long on the digital asset after CEO Michael Saylor revealed during an earnings call that the company does not intend to sell any of the BTC on its balance sheet. MicroStrategy believes that the asset is one of the best long-term investments available.<\/p>\n<p class=\"p1\">The total value of MicroStrategy\u2019s BTC holdings now comes out to a little over $7 billion. Over half of this value has come from the gains on the bitcoins that the company has purchased over time. The carrying value for all of its holdings currently sits at $2.406 billion. MicroStrategy\u2019s market capitalization is now at $7.4 billion, thanks to its BTC holdings.<\/p>\n<h2 class=\"p1\">Going All In On Bitcoin<\/h2>\n<p class=\"p1\">Despite the massive gains on its investment thus far, MicroStrategy has made no attempt to cash out the profits from the digital asset. Instead, the company plans to continue to purchase more bitcoins over time. Saylor explained this in a <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-10-29\/microstrategy-open-to-buying-yet-more-bitcoin-after-adding-9-000?utm_source=twitter&amp;utm_medium=social&amp;utm_campaign=socialflow-organic&amp;utm_content=crypto\" rel=\"nofollow\">company statement<\/a> when laying out the tech company\u2019s intent for the future. \u201cWe will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy,\u201d Saylor explained.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/el-salvador-buys-420-bitcoin\/\">El Salvador Calls Another Bitcoin Dip With $25 Million Purchase<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">This comes as no surprise as the CEO has always been very vocal about his long-term convictions for the digital asset. Saylor has not been fazed by dips in the market as the crypto enthusiast has cheered on the cryptocurrency through thick and thin. The CEO has held his BTC stash through rough markets and continues to advocate for holding on to bitcoins as opposed to selling them.<\/p>\n<pre style=\"text-align: center\">Featured image from AZCoin News, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy has been bullish from the start evidenced by its bitcoin purchases. The firm owns over 110 bitcoins and has deepened its crypto bet at various times during the past year. The tech firm has continuously raised money at various points to purchase more BTC to add to its balance sheet and there is no sign of stopping anytime soon according to CEO Michael Saylor. Saylor has, numerous times, reiterated the company\u2019s bullish stance on BTC. The CEO himself is a bitcoin maximalist with a personal and corporate stake in the digital asset.\u00a0 The company has so far raised almost $400 million to fund its purchases this year and has seen tremendous gains from its investment. Related Reading |\u00a0Bitcoin Exchange Balances Decline To Three-Year Low Amid Rising Prices MicroStrategy Buys 9,000 BTC MicroStrategy once again raised its bitcoin bet with its most recent purchase. In October, the company announced that it had purchased an additional 9,000 BTC to its already impressive holdings. MicroStrategy had taken its usual route to purchase its latest lot of the digital asset, staking that the purchase was made possible by \u201csuccessfully raising capital in the quarter through our at-the-market equity offering.\u201d BTC trading above $62K | Source: BTCUSD on TradingView.com The latest purchase brings MicroStrategy\u2019s BTC holdings to a total of 114,042 BTC. The company is still long on the digital asset after CEO Michael Saylor revealed during an earnings call that the company does not intend to sell any of the BTC on its balance sheet. MicroStrategy believes that the asset is one of the best long-term investments available. The total value of MicroStrategy\u2019s BTC holdings now comes out to a little over $7 billion. Over half of this value has come from the gains on the bitcoins that the company has purchased over time. The carrying value for all of its holdings currently sits at $2.406 billion. MicroStrategy\u2019s market capitalization is now at $7.4 billion, thanks to its BTC holdings. Going All In On Bitcoin Despite the massive gains on its investment thus far, MicroStrategy has made no attempt to cash out the profits from the digital asset. Instead, the company plans to continue to purchase more bitcoins over time. Saylor explained this in a company statement when laying out the tech company\u2019s intent for the future. \u201cWe will continue to evaluate opportunities to raise additional capital to execute on our Bitcoin strategy,\u201d Saylor explained. Related Reading |\u00a0El Salvador Calls Another Bitcoin Dip With $25 Million Purchase This comes as no surprise as the CEO has always been very vocal about his long-term convictions for the digital asset. Saylor has not been fazed by dips in the market as the crypto enthusiast has cheered on the cryptocurrency through thick and thin. The CEO has held his BTC stash through rough markets and continues to advocate for holding on to bitcoins as opposed to selling them. Featured image from AZCoin News, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":474952,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,601,1119,83344,81299],"class_list":["post-474949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-investment","tag-btc","tag-michael-saylor","tag-microstrategy"],"acf":[],"yoast_head":"\n<title>MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO<\/title>\n<meta name=\"description\" content=\"MicroStrategy has been bullish from the start evidenced by its bitcoin purchases. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO","url":"http:\/\/uniquehot.com\/news\/microstrategy-increasing-bitcoin-bet\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/microstrategy-increasing-bitcoin-bet\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/bitcoin-4.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/bitcoin-4.jpeg?fit=1600%2C800"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin investment","btc","michael saylor","microstrategy"],"dateCreated":"2021-10-29T17:00:04Z","datePublished":"2021-10-29T17:00:04Z","dateModified":"2024-06-11T13:59:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"MicroStrategy Bent On Increasing Bitcoin Bet After 9,000 BTC Purchase, Says CEO\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/microstrategy-increasing-bitcoin-bet\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/microstrategy-increasing-bitcoin-bet\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/bitcoin-4.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/bitcoin-4.jpeg?fit=1600%2C800\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin investment\",\"btc\",\"michael saylor\",\"microstrategy\"],\"dateCreated\":\"2021-10-29T17:00:04Z\",\"datePublished\":\"2021-10-29T17:00:04Z\",\"dateModified\":\"2024-06-11T13:59:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/bitcoin-4.jpeg?fit=1600%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/474949"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=474949"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/474949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/474952"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=474949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=474949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=474949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}