On the 28th of October, MicroStrategy CEO Michael Saylor, said he personally holds $235 million worth of Bitcoin. In a tweet, Saylor said:
“Some have asked how much BTC I own. I personally hodl 17,732 BTC which I bought at $9,882 each on average.”
The CEO added that he informed the business intelligence company MicroStrategy of his possession. After then, the company acquired its Bitcoin.
In August, MicroStrategy acquired 21,454 BTC worth over $250 million at the time of purchase. About a month after, the company bought an additional 16,769 Bitcoin worth $175 million. Now, the intelligence company owns 38,250 BTC, which is currently worth over $505 million.
Also, Saylor recently revealed that Q3 is the strongest MicroStrategy has pulled in the last ten years. In the quarter, profit hit $19.8 million, more than $8 million increase over the previous year’s profit of $11.6 million.
In addition, the company recorded its highest in total revenue since 2016.
According to MicroStrategy president and CFO, Phong Li, the significant increase is due to the company’s recent investment in Bitcoin. The president noted that the investment has brought “notable and unexpected benefit” to the intelligence company.
Furthermore, Li said that MicroStrategy has plans to acquire more Bitcoin to the current 38,250 Bitcoin it currently holds.
Image Credit: Pixabay