MicroStrategy Buys More Bitcoin, Chairman Saylor Urges Microsoft To Do the Same | Global News Avenue

MicroStrategy (Magnetic transmission technology) bought another $1.5 billion worth of Bitcoin (Bitcoin USD) last week, the company said on Monday.

With the latest purchase of 15,400 Bitcoins, MicroStrategy now holds a total of 402,100 Bitcoins, which is less than 2% of the 21 million Bitcoins. total supply That will always be there.

According to BitcoinTreasuries.net, MicroStrategy is the second-largest holder of Bitcoin on the public market, behind only BlackRock’s iShares Bitcoin Trust (it will go), which is spot Bitcoin exchange traded funds (ETF).

MicroStrategy continues its Bitcoin buying spree, with the latest Bitcoin purchase price being $95,976 per Bitcoin. Company chairman Michael Saylor teased the news on X over the weekend.

MicroStrategy’s shares were down nearly 1% in recent trading on Monday, despite rising 500% year to date. Bitcoin also fell below $96,000, down 1.4%

Thaler urges Microsoft to buy Bitcoin

Since MicroStrategy’s first purchase of Bitcoin in 2020, Saylor has supported the potential benefits of public companies holding Bitcoin as a treasury reserve asset.

As more and more companies Start using this strategy Some analysts believe it could support the price of the largest cryptocurrency by market capitalization during periods of volatility through 2024.

However, other large tech companies (except Tesla)Tesla), the company sold most of its Bitcoin holdings but still owns about $1 billion worth of Bitcoin — and is not yet actively buying Bitcoin. Thaler hopes that by urging Microsoft (Microsoft Corporation) to purchase digital assets.

In a video on December 1, Thaler said he briefed Microsoft’s board of directors on why the tech giant should buy Bitcoin. He urged the tech giant to invest in cryptocurrencies rather than buybacks or distribute dividends to eliminate shareholder risk and increase corporate value.

This presentation follows a proposal from the National Center for Public Policy Research, a think tank dedicated to shareholder activism in support of conservative policies, to evaluate Bitcoin investments. Microsoft’s board of directors previously recommended that shareholders vote against the proposal.