MicroStrategy Finalizes Yet another $650M BTC Purchase

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microstrategy-Bitcoin

MicroStrategy CEO and avid supporter of Bitcoin (BTC), Michael Saylor, announced on Twitter recently that the firm has invested yet another $650 million to the surging crypto. As per the announcement, Saylor clarifies that MicroStrategy used the debt issuance to purchase a precise figure of 29,646 BTC and was made when the BTC price average was around $21,000 per crypto.

All in all, MicroStrategy now possesses a total amount of 70,470 BTC within its treasury reserve – converting that to current price averages, that is about $1.5 billion. The business intelligence firm’s CEO then stated that it has already spent over a billion dollars on Bitcoin to date; all the while hinting that more could soon follow.

It was this past December 11th wherein the firm successfully raised $650 million in debt securities to which it explicitly stated to then use as means for further BTC investment. Not long before that, MicroStrategy already made two notable investments in the crypto by way of its cash holdings, purchasing a total of 38,250 in two separate transactions between August and September.

While Saylor feels delighted with the company’s recent investment decisions, many now begin to worry that he may be concerning himself with the crypto a little too much. This is because issuing debt to purchase even more BTC is generally seen as a very bold move, especially for those whose business model does not necessarily revolve around cryptocurrencies.

SkyBridge Capital has also made its interest in BTC very apparent

MicroStrategy isn’t the only high-profile company making its commitment to BTC very much apparent recently. SkyBridge Capital, the $9.3 billion hedge fund started by the former Communications Director for the White House, filed today the Regulation D form to the SEC to establish a Bitcoin Fund.

Suppose the SEC does so oblige with the filing. In that case, SkyBridge Capital may now start offering its accredited investors the opportunity to invest their money on its very own Bitcoin Fund. Notably, the firm plans to call it the “SkyBridge Bitcoin Fund L.P.”

With that being said, the firm declines to offer more information about the new potential BTC fund aside from the fact that it has a set minimum investment of $50,000.

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