Michael Saylor, the president of business intelligence giant MicroStrategy, announced on November 27, the renewal of his bet on Bitcoin (BTC) with another massive purchase of tokens. The action takes place against a scenario of possible approval of a Bitcoin exchange-traded fund (ETF), which could raise the market to new highs.

According to Saylor, MicroStrategy acquired 14,620 Bitcoins for approximately $615.7 million. With this new purchase, the company now holds 189,150 BTC.

“MicroStrategy acquired an additional 14,620 BTC for approximately $615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23, MicroStrategy now has 189,150 $BTC purchased for ~$5.9 billion at an average price of $31,168 per bitcoin,” he detailed.

At the time of publication, the price of Bitcoin was quoted at US$43,066.14, up 0.9% in the last 24 hours.

Recently, MicroStrategy announced on November 30th the purchase of an additional 16,130 bitcoins. The transaction value is approximately US$593.3 million. In a company document, MicroStrategy reported that the new acquisition took place between November 1st and 29th and had a value of around US$36,785 for each bitcoin.

$1.5 Billion Profit: Michael Saylor Turns Bitcoin into Gold

In the current cryptocurrency scenario, one name stands out: Michael Saylor, the president of MicroStrategy. His Bitcoin investing journey has been remarkable, culminating in an impressive profit of over $1.5 billion.

Since September 2020, Saylor has been a prominent figure in the cryptocurrency market, dedicating a considerable sum of $5.325 billion to acquire 174,530 BTC, as indicated by Saylortracker, a portal dedicated to tracking his movements in the Bitcoin market.

With a keen eye for opportunities, Saylor achieved an average cost of $30,512.81 per Bitcoin over three years. This strategy proved fruitful, with the current value of Bitcoin being around US$39,411. This appreciation transformed Saylor’s initial investment into almost US$7 billion, specifically US$6,900,641,579.28, resulting in a profit of US$1,575,241,579.28 and a historical gain of 29.58%.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/microstrategy-renova-aposta-no-bitcoin-com-compra-massiva-antes-de-aprovacao-de-etf/

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