MicroStrategy, a business software company known for its bullish stance on Bitcoin, again showed its strong faith in the digital asset by purchasing over 190,000 Bitcoin (BTC) in January 2024.
Led by Michael Saylor, CEO of MicroStrategy, the company invested $37.2 million to purchase an additional 850 BTC at an average price of $43,764 per coin, slightly above the current market value of $43,206 (approximately Rp637 million).
Strategies to Buy Bitcoin Consistently
In its year-end financial report, MicroStrategy revealed an average Bitcoin purchase price of $31,224 (approximately Rp458 million), demonstrating the company's strategic acquisition approach. "With the addition of 31,755 Bitcoins since last quarter, we have seen the largest quarterly increase in the past three years, continuing our Bitcoin investment trend for the 13th consecutive quarter," MicroStrategy said.
Financial Challenges and Dominance in the Crypto Market
Despite this being an aggressive Bitcoin investment strategy, MicroStrategy experienced a 6.1% year-on-year decline in quarterly revenue and a decrease in gross profit from $105.8 million (around Rp1.5 trillion) to $96.3 million (around Rp1.4 trillion).
MicroStrategy's Bitcoin holdings now exceed a total of nine newly introduced Bitcoin ETFs, which hold around 181,000 BTC. This amount of BTC holdings, represents almost 1% of all Bitcoin. It also confirms the influence of companies led by Michael Saylor in the crypto market.
Saylor's Belief in Bitcoin
Reflecting his high confidence in Bitcoin, Saylor has started selling more than $200 million of his personal MicroStrategy shares to fund further Bitcoin purchases, even as MSTR shares have decreased in value by 16% since the recent launch of a Bitcoin ETF. MicroStrategy's strategy to expand its Bitcoin portfolio, despite the financial downturn and market uncertainty, shows strong confidence in the future of this digital asset.
Conclusion
By owning a large amount of Bitcoin, MicroStrategy has not only asserted its dominance in the crypto space, but has also set an example for corporate investment in managing digital assets. How to invest MicroStrategy against Bitcoin provides important insights into how to leverage Bitcoin as a durable investment option and the potential impact of corporate investors on the direction of the digital currency market.
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell BTC in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti. BTC is available on Bittime with BTC IDR pairing.
To be able to buy BTC/IDR tokens on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, then you can make BTC purchases in the application. Complete Guide on How to Buy Bitcoin (BTC) on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
MicroStrategy's Bitcoin Is More Valuable Than Its Own Company
Bitcoin Analysis: The Effect of the United States Election on Bitcoin Price
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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