Michael Saylor and ‘Black Friday with Bitcoin’. Youtube playback and editing.
Almost 3 months after the last purchase, business intelligence company MicroStrategy announced the purchase of 7002 more bitcoins. This demonstrates not only that the company is following its strategy of using BTC as a store of value, but also that executives are keeping an eye on price movements to take advantage of discounts.
Repeating last year’s move, bitcoin tumbled amid black friday promotions in stores around the world. Soon, Michael Saylor, CEO of the world’s most-owned bitcoin-listed company, went shopping.
According to the document sent to the SEC (US Securities and Exchange Commission) by MicroStrategy, the purchase of BTC was carried out between October 1st and November 29th. During this period, the price varied between US$ 48,000 and the historic high of US$ 69,000.
The company’s average purchase price was $59,187 for 7002 bitcoins, purchased for a cumulative $414.4 million. In the aggregate, MicroStrategy has 121,044 bitcoins purchased for about $3.57 billion at an average price of $29,534 per bitcoin, second Saylor’s tweet.
El Salvador also bought bitcoin “at a discount”
Michael Saylor, however, wasn’t the only one to publicly announce a big buy of bitcoin in recent days. Nayib Bukele, the president of El Salvador, where Bitcoin is the official currency, also acquired some coins.
“100 extra coins purchased at a discount,” tweeted Bukele on Friday (26).
While MicroStrategy follows the movement of dozens of other companies buying bitcoin to compose its balance sheet, El Salvador is currently the only sovereign country to use money snatched from the population by taxes to buy digital currency.
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