The fact that Michael Saylor owns Bitcoin is not shocking, but the magnitude of his holdings is.
The company has managed to purchase a total of 226,500 Bitcoin units as of July 30th.
Michael Saylor has come clean about his Bitcoin (BTC) ownership. He is the co-founder and chairman of the American software and business analytics company MicroStrategy. Previous rumors about Saylor’s personal Bitcoin bets were confirmed when he made this announcement earlier today.
The fact that Michael Saylor owns Bitcoin is not shocking, but the magnitude of his holdings is. Just so you know, Saylor supposedly came clean about his personal ownership of almost $1 billion worth of Bitcoin. His continuous accumulation of Bitcoin at MicroStrategy is widely believed to be the primary focus of his attention among industry insiders.
Banking on Bitcoin
It turns out, however, that he cares just as much about his own interests as his business intelligence software company’s. All eyes were on MicroStrategy’s Bitcoin buying binge for a long time. In 2020, shortly after the worldwide COVID-19 epidemic struck, the company started to acquire BTC under Michael Saylor’s leadership.
The company has managed to purchase a total of 226,500 Bitcoin units as of July 30th, four years later. The total value of this hoard is around $12.7 billion at the current market price. So, about 10% of MicroStrategy’s stockpile equates to Saylor’s personal Bitcoin ownership.
Intense BTC adoption is being recorded throughout the whole digital currency ecosystem, coinciding with this Michael Saylor update. Bitcoin is becoming more prominent in several areas, including the US political scene and spot Bitcoin ETF products.
A lot of different areas are competing for cryptocurrency products since Bitcoin has gone a long way since the SEC authorized the selling in the US. Both Australia and Hong Kong have already launched such products in their regions, after the SEC’s January approval.
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