Michael Saylor Continues to Invest In Bitcoin: New $42.8M Purchase at MicroStrategy

Michael Saylor Continues to Invest In Bitcoin: New $42.8M Purchase at MicroStrategy

Bitcoin has so far failed to recover from the price crash of November last year. The course repeatedly struggles with key resistance levels. However, numerous experts and crypto analysts agree that the price of BTC will rise again soon. Among them is Michael Saylor, founder and CEO of the multi-million dollar software company MicroStrategy. He has always been optimistic about Bitcoin and other cryptocurrencies in the past. Now, with an investment of USD 42.8 million, he showed how certain he is that the price of Bitcoin will rise again soon.

An investment in the millions

On December 28, the company filed a report on the purchase with the United States Securities and Exchange Commission (SEC). This shows that 2,395 bitcoins were purchased, with an average value of $17,181 each. Thus, $42.8 million was invested in the cryptocurrency. These purchases were completed between November 1 and November 21.

He published the latest MicroStrategy portfolio on Twitter. According to this, the company holds 2,500 Bitcoins with a value of USD 132,500.

MicroStrategy is changing its strategy when it comes to bitcoin trading

However, in contrast to Saylor’s previously known strategy, the decision was made not to hold the bitcoins. For the first time, the company sold the tires again after a short time.

On December 22, MicroStrategy sold 704 bitcoins again and got back USD 11.8 million. On December 24, they decided to buy again and received 810 bitcoins. At the time of closing, these were valued at $13.6 million. The company paid for the cryptocurrencies in cash.

In an interview with Bloomberg in January of last year, Michael Saylor explained that he is not one of the sellers:

“We only receive and hold bitcoin, right? That is our strategy. We are not sellers.”

Regarding past sales, Saylor wrote:

“MicroStrategy intends to roll back the capital losses arising from this transaction against prior capital gains to the extent such redemptions are available under current federal income tax laws that could generate a tax benefit.”

The company selling the bitcoins appears to have a tax advantage. The statement says:

“Approximately 132,500 bitcoins held by MicroStrategy and its subsidiaries as of December 27, 2022 were acquired for an aggregate purchase price of approximately $4.03 billion and an average purchase price of approximately $30,397 per bitcoin, including fees and expenses”.

Despite his change in strategy, Saylor remains an advocate and supporter of bitcoin. Time and again he shares strong forecasts for the cryptocurrency on Twitter. In October he wrote: “Bitcoin is the only money that aligns all interests to focus on peaceful participation, rational action and productive industry.”

Also regarding the recent events after the bankruptcy of the FTX exchange, Saylor does not assume that Bitcoin will suffer for a long time. In a video he says that the price crash is “expensive advertising” for the coin and that it will emerge stronger from the crisis.

MicroStrategy is planning new software for Bitcoin Lightning

At the end of the year published the CEO of MicroStrategy plans to create new software. This is said to be based on Bitcoin Lightning and will be released this year. In the announcement, it was revealed that the company is currently looking for a software engineer to complete work on the Lightning Network.

In addition, the management explained that an integrated Lightning Wall should be protected with the Satoshi Paywall. In the future, users will need to make a deposit to be able to access data.

Most market watchers and analysts, like Saylor, agree that the Bitcoin price will continue to rise in the future. Some voices are even claiming that it could go up to around $100,000 this year. However, it is difficult to predict the initial base within the unstable market.

Within a month, bitcoin lost about 30%. Today, too, the price drops again by 0.80 percentage points. It is therefore valued at USD 15,891. Trading volume increased slightly by 3% in the last 24 hours.

With a new analysis platform, Dash 2 Trade developers want to make forecasting much easier for traders.

Trade Dash 2: The pre-sale ends shortly

The pre-sale of the D2T tokens ends in two days. The developers were able to shorten this significantly due to high demand and the state of development. Coin trading is scheduled to begin on January 11. Over the past few weeks, the team has published more details on the development program.

The functions are to be activated one after the other. After the full release, users should have access to numerous expert analyzes and calculations, depending on the selected subscription. In an overview, you should be able to quickly see which cryptocurrencies are currently performing well and which are not. Using chain analytics and strategy builders, they should soon be able to make a forecast for Bitcoin, ETH and Co.

In addition, the platform will focus on EITs. This means that the dealers get all the information about the developing project. Investors looking to buy the D2T tokens in the pre-sale will find them at a price of USD 0.0333.

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