{"id":3391,"date":"2022-04-15T04:00:27","date_gmt":"2022-04-15T04:00:27","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=3391"},"modified":"2022-04-15T04:00:28","modified_gmt":"2022-04-15T04:00:28","slug":"well-vigorously-pursue-more-btc-buys","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3391","title":{"rendered":"We\u2019ll &#8216;vigorously pursue&#8217; more BTC buys"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>MicroStrategy CEO Michael Saylor has proclaimed to shareholders of his company that his firm intends to \u201cvigorously pursue\u201d its reserve assets strategy to buy and hold more Bitcoin.<\/p>\n<p>Saylor\u2019s publicly traded company is the largest single-wallet holder of Bitcoin (BTC) in the world with 129,218 BTC according to wallet tracker Bitcoin Treasuries. Those coins are currently valued at about $5.1 billion. MicroStrategy bought 4,197 more coins on April 5. <\/p>\n<p>By comparison, Tesla, MicroStrategy&#8217;s runner-up in the hodling race, owns 43,200 BTC valued at about $1.7 billion.<\/p>\n<p>In MicroStrategy&#8217;s <em>2022 Proxy Statement<\/em> that was filed with the SEC on April 14, Saylor praised his company\u2019s ongoing success in being early to add BTC to its treasury and add value for customers and shareholders. MicroStrategy only paid about $3.9 billion for the BTC in its treasury, translating to a paper profit margin of $1.2 billion. Saylor wrote in the letter:<\/p>\n<p>\u201cOur parallel strategy to acquire and hold Bitcoin has been a tremendous success.\u201d<\/p>\n<p>The letter also states that Microstrategy\u2019s BTC holdings are well in the green, but made it difficult for the company\u2019s executives to obtain liability insurance. As a result, Saylor has provided the insurance out of his own pocket.<\/p>\n<p>Saylor\u2019s 68.1% ownership of MicroStrategy means that he can pretty much do what he likes at the company, which also helps explain why more companies have not followed his lead. He\u2019s been one of the most vocal proponents for Bitcoin since 2020 and uses his position to reach global audiences.<\/p>\n<p>On Mar. 29, the MacroStrategy subsidiary of Saylor\u2019s software firm said it would use $205 million obtained in a Bitcoin-collateralized loan from Silvergate Bank to buy more BTC. Saylor said in an announcement that the loan marked the first time his company was using its BTC holdings as \u201cproductive collateral.\u201d <\/p>\n<p>Despite global headwinds from the war, inflation and interest rate rises, MicoStrategy and Do Kwon\u2019s Terra (LUNA) buying tens of millions of dollars worth of Bitcoin at a time has helped maintain some confidence in prices. Terra\u2019s holdings are now only 800 coins behind Elon Musk\u2019s Tesla, which holds the second most BTC among publicly traded companies.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin dives on Wall Street open, DOGE price jumps on Elon Musk&#8217;s Twitter offer<\/em><\/strong><\/p>\n<p>Bitcoin is down 2.65% over the past 24 hours trading at $40,109 according to Cointelegraph data.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/microstrategy-shareholders-letter-we-ll-vigorously-pursue-more-btc-buys\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy CEO Michael Saylor has proclaimed to shareholders of his company that his firm intends to \u201cvigorously pursue\u201d its reserve assets strategy to buy and hold more Bitcoin. Saylor\u2019s publicly traded company is the largest single-wallet holder of Bitcoin (BTC) in the world with 129,218 BTC according to wallet tracker Bitcoin Treasuries. Those coins are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-3391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3391"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3391\/revisions"}],"predecessor-version":[{"id":3393,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3391\/revisions\/3393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3392"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}