Michael Saylor, president of the computer company, MicroStrategy, once again announced purchases of bitcoin (BTC) by his company.
The executive wrote on his As of March 18, 2024, MicroStrategy holds 214,246 BTC acquired for approximately $7.53 billion, at an average price of $35,160 per bitcoin.
The figure of 214,246 takes on special relevance. It represents approximately 1% of all bitcoins that will exist in history: 21 million units.
Not only that, but right now it represents 1,089% of the 19,658,462 BTC that have been mined so far. In simpler terms: 1 in every 100 bitcoins is currently held by MicroStrategy.
In this way, the company shows that it remains firm in its DCA strategy. While some wonder whether to buy BTC at “such high” prices, MicroStrategy answers yes. While some are wondering whether to buy BTC when the price drops or wait for it to drop further, MicroStrategy simply hits the “buy” button. Thus, it has achieved an average price considerably lower than the current price of BTC, which means that it is in profit.
The motivation for accumulating bitcoin is that Saylor is firmly convinced that in the next 10 years, the price can rise to unimaginable levels. And, therefore, this would be a favorable stage to accumulate the digital currency that already serves as a medium of exchange and reserve of value worldwide.
During his most recent participation in LaBitConf, a conference that took place in Argentina last November, Saylor highlighted the qualities of Bitcoin and explained that it is these qualities that drive him to accumulate as much BTC as possible :
"'If we want to preserve our wealth, the investor has to convert his wealth into scarce, desirable, portable, durable and holdable assets. These are the five criteria that are very important. They have to evaluate every asset against this.”
