Michael Saylor's company Microstrategy ($MSTR) raised its total Bitcoin Treasury to 174530 in November by acquiring 16130 BTC. While some analyses applaud the move, some are mad.
BTC Price Overview
Michael Saylor claims MicroStrategy paid $593.3 million for 16130 bitcoins purchased in November at an average price of $36785. Currently MicroStrategy holds 174530 Bitcoins for which the company spent $5.28 billion at an average price of $30252. This means MicroStrategy is in profit of $1.29B.
HODLer of MSTR Bitcoin
On the NASDAQ, Microstrategy $MSTR stocks are owned by Institutions, company insiders, and individual investors. Consequently, the stockholders own MicroStrategy's bitcoins as well. However, that ownership is only real on paper, as Michael Saylor is the owner of MicroStrategy's Bitcoin wallet's private keys.
Bitcoinists Unhappy
Since Michael Saylor's approach involves transferring Bitcoin from common ownership to the hands of industrialists, many Bitcoinists are unhappy with it. It is likely that in this way, Bitcoin will no longer be utilised as currency and that big hodlers will own the entire Bitcoin ecosystem.
