Why Bitcoin has become a major asset for companies?

Why Bitcoin has become a major asset for companies?

  • 1 November 2020
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According to Digital currency market news and analysis of Minerland, Bitcoin has become a major asset for some companies. A real example of this would be the MicroStrategy company that became the first public company to record Bitcoin on its balance sheet. The company has so far purchased a total of 38,250 Bitcoins, which is currently worth more than $ 505 million.

MicroStrategy investing in Bitcoin has given the company some of its strongest quarterly performance in recent years. In the third quarter of this year, the company announced that it had the highest total revenue since 2016 and its profit reached $ 19.8 million. Last year, the company made a profit of $ 11.6 million.

Saylor recently told the media that Bitcoin is the best “money” ever made because inflation has no place in the design of this digital currency.

How much money does the MicroStrategy CEO make in Bitcoin?

Michael Saylor claims that he has 17,732 Bitcoins on his own. He is the CEO of MicroStrategy, a smart business company. This volume of Bitcoins is currently worth more than $ 235 million.

According to the “Theblockcrypto,” Saylor tweeted on Wednesday that he had bought Bitcoin at an average price of $ 9,882. It means that the total cost of Saylor to buy Bitcoins was about $ 175 million. At current Bitcoin prices, Saylor’s profit is estimated at $ 60 million.

In that report, entitled about the Saylor Asset Value, Saylor also said that the MicroStrategy Company was aware that he had bought Bitcoins, and this was before the company decided to buy Bitcoins.

How much Bitcoin did MicroStrategy buy?

Due to a report of CoinDesk on14th September, Michael Saylor, the establisher of MicroStrategy, announced that his company had added another $ 175 million in Bitcoin to its total assets in a single purchase.

According to CoinDesk, Saylor tweeted that his smart business company had bought 16,796 Bitcoins. He tweeted on 14th September; MicroStrategy was able to successfully buy another 16,796 units of Bitcoin for $ 175 million. So far, including commissions, we have bought a total of 38,250 Bitcoins worth $ 425 million.

As Saylor announced in its tweet, Microstrategy has added just over 167,000 Bitcoins to its assets. The net worth of the company’s new assets is $ 413,281 million at current prices. Microstrategy informed the US Securities and Exchange Commission on Monday that it may increase its Bitcoin stock. The company also bought $ 250 million worth of Bitcoins in August.

What was the largest volume of Bitcoin purchases?

In December 2017, Bitcoin purchases increased in high volume. Over the past two weeks, countless purchase orders have been placed for Bitcoin, but one of them has attracted attention.  From December 12, 2017, to February 12, 2018, for two months, an anonymous person bought (or received) about 96,000 Bitcoins.

According to the Fortune Foundation, an anonymous investor or trader has invested $ 400 million in the king of digital currencies, Bitcoin, to buy $ 400 million, which is enough to buy twice the most expensive house in New York. Between February 9th and 12th, the wealthy lady or gentleman increased the number of her Bitcoins from 55,000 to 96,000. Maybe her purchase has been an effect on the recent rise in the price of Bitcoins.

2 responses to “Why Bitcoin has become a major asset for companies?”

  1. Herve Fodouop says:

    Good to know

  2. Yanga Jili says:

    Really great info and good article

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