$10 Million in BTC, $10 Million Purchase, Bitcoin (BTC), bitcoin balance sheet, Form 8-K, Michael J. Saylor, microstrategy bitcoin, microstrategy btc, SEC, Treasuries, US Regulators

On Friday, the incorporated and publicly listed business intelligence (BI) firm, Microstrategy announced the company has acquired an additional $10 million in bitcoin. The company’s CEO Michael Saylor revealed the latest purchase on Twitter with a link to a Form 8-K Securities and Exchange Commission (SEC) filing registered on March 5, 2021.

Microstrategy’s Bitcoin Buying Spree Continues

Microstrategy continues its bitcoin (BTC) buying spree announcing it bought an additional $10 million worth on Monday. The BI company’s CEO revealed the new acquisition on Friday, March 5, when he tweeted about the latest purchase on Twitter. “Microstrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash,†Saylor wrote. “At an average price of ~$48,888 per bitcoin,†he explained to his 598,000 Twitter followers.

Saylor added:

In addition to the tweet, Saylor also left a Microstrategy link that leads to a press release or scanned picture of the Form 8-K SEC filing. Of course, the Bitcoin community looked at the purchase as a positive and many people replied to Saylor’s latest announcement. “Should someone tell him the meme is ‘Stacking sats’ and not ‘Stacking 200 bitcoins?’ the popular Twitter account dubbed ‘Documenting Bitcoin’ wrote.

‘Microstrategy Discovered Bitcoin’s Potential Ahead of the Sleeping Herd’

Other people wrote that Saylor and Microstrategy have already seen the potential Bitcoin has to offer, and they want “to monopolize the bitcoin market.†“He has discovered the potential ahead of the sleeping herd will reap the rewards more,†Yasir Shaikh tweeted in response to Saylor’s $10M in bitcoin purchase statements. “I Believe soon Microstrategy will have as big a market cap as FAANG,†Shaikh added.

Microstrategy currently commands 0.4336% of the entire 21 million bitcoin supply cap and the firm is nearing the 100k BTC milestone. It is the fourth largest entity listed on the web portal bitcointreasuries.org behind Grayscale, Mt Gox, and Block.one respectively. After the latest Microstrategy purchase some even jokingly said that Saylor and Microstrategy were addicted to purchasing BTC.

First, you start with sats, then you start stacking a full bitcoin and can’t stop,†an individual wrote in response to Saylor’s BTC purchase announcement on Friday morning.

What do you think about Microstrategy’s recent $10 million purchase of bitcoin and the company’s current stash of 91,064 bitcoins? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

Biden Administration Developing Cryptocurrency Regulation — Treasury to Provide Direction to SEC

The Biden administration is reportedly developing a regulatory framework for the cryptocurrency markets. The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, is waiting for direction from the Treasury to establish cryptocurrency regulation. New Crypto Regulation Being Developed by Biden Administration Fox Business’ Charlie Gasparino reported Monday that the Biden administration […]

Xem chi tiết: Biden Administration Developing Cryptocurrency Regulation — Treasury to Provide Direction to SEC

China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown

After the well-known crypto crackdown launched by the Chinese government four years ago, it seems there is now a change in the tone from the country’s central bank. At least that’s what has been suggested recently by the deputy governor of the People’s Bank of China (PBoC). Central Bank Clarifies Its Regulatory Framework on Cryptos […]

Xem chi tiết: China Calls Bitcoin and Stablecoins ‘Investment Alternatives’ for the First Time Since Crypto Crackdown

Whales Move Over $4 Billion in BTC During Sunday’s Market Carnage, 150 Bitcoin from 2010 Spent

After bitcoin and a myriad of other crypto-assets tumbled in value on Sunday a number of significant whale movements took place. During the morning trading sessions on Sunday (EST), an old school miner transferred three decade-old coinbase rewards with 150 bitcoin worth more than $8.5 million. Later on in the evening, just before the transition […]

Xem chi tiết: Whales Move Over $4 Billion in BTC During Sunday’s Market Carnage, 150 Bitcoin from 2010 Spent

US SEC Expected to Impose ‘Fair Amount’ of Regulation on Cryptocurrencies, Says Former Chairman

Former SEC Chairman Harvey Pitt says that he expects a “fair amount†of crypto regulation coming from the U.S. Securities and Exchange Commission (SEC) following the confirmation of the new chairman. Former SEC Chair Expects ‘Fair Amount’ of New Crypto Regulation Harvey Pitt talked about the future of cryptocurrency regulation under the new chairman, Gary […]

Xem chi tiết: US SEC Expected to Impose ‘Fair Amount’ of Regulation on Cryptocurrencies, Says Former Chairman

200-Year-Old American Wine Shop Now Accepts Cryptocurrencies 

Nearly every day now a new company is announcing the acceptance of cryptocurrencies in some form or another. Now one of the world’s largest fine wine auction houses and America’s oldest wine shop Acker has revealed digital currency acceptance to pay for auction payments and retail wine purchases. Wine Shop Acker Jumps Into the Crypto […]

Xem chi tiết: 200-Year-Old American Wine Shop Now Accepts Cryptocurrencies 

MIT Crypto Professor Gary Gensler Confirmed as New SEC Chairman

The U.S. Securities and Exchange Commission (SEC) now has a new chairman, Gary Gensler. President Joe Biden’s pick, the MIT professor, whose classes included blockchain technology, digital currencies, and financial technology, has been confirmed by the Senate to lead the SEC. SEC Has a New Chairman President Joe Biden’s pick to lead the U.S. Securities […]

Xem chi tiết: MIT Crypto Professor Gary Gensler Confirmed as New SEC Chairman

OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some are assuming the hearsay stems from the recent Russian sanctions […]

Xem chi tiết: OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread

Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

Since April 15, the Bitcoin network hashrate has dropped more than 49% after touching an all-time high at 218 exahash per second. Regional reports noted that in China the Xinjiang grid is having blackouts and “safety inspections.†Reports Claim Blackouts in Xinjiang, China Have Pushed Bitcoin’s Hashrate Down 49% At the time of writing, the […]

Xem chi tiết: Bitcoin Hashrate Drops Over 45%, Xinjiang Grid Blackouts Blamed, BTC Price Slides 10%

‘Ossification Is Stupid:’ Bitcoin Development Controversy Strikes ‘Speedy Trial’ Taproot Activation

Miami-Dade Officials Hope to Launch a Crypto Task Force, Residents Could Pay Taxes in Bitcoin Soon

SEC Commissioner: Banning Bitcoin Is Like Shutting Down Internet — Government Would Be ‘Foolish’ to Try

‘Weird Coins Like DOGE and XRP Spike’- Galaxy Digital’s Mike Novogratz Warns of a Crypto Market ‘Washout’ 

‘Weird Coins Like DOGE and XRP Spike’- Galaxy Digital’s Mike Novogratz Warns of a Crypto Market ‘Washout’ 

Over $750 Million in Bitcoin from the 2016 Bitfinex Hack Moved Today

Insurance Giant AXA Allows Swiss Clients to Pay for Services With Bitcoin

MIT Crypto Professor Gary Gensler Confirmed as New SEC Chairman