Throughout January, Michael Saylor’s company MicroStrategy purchased an additional 850 Bitcoins, amounting to approximately $37.2 million.
The company currently holds 190,000 Bitcoins, which it acquired for a total of $5.93 billion. Nevertheless, the company’s total revenue decreased by 6% over the previous year.
Saylor takes advantage of Bitcoin volatility and employs AI
A recent report highlighted that MicroStrategy had a successful year last year as it focused on implementing artificial intelligence (AI) into its business intelligence strategy.
“2023 was a special year for MicroStrategy. We strategically raised capital to significantly increase our Bitcoin holdings and developed and launched MicroStrategy AI, bringing our first AI-based BI tool to market. We continued to innovate.”
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Furthermore, the company announced that since the end of September 2023, it has acquired a large amount of Bitcoin by taking advantage of market fluctuations and recording an average purchase price below Bitcoin’s current price.
“Since the end of the third quarter, we have acquired 31,755 Bitcoins for $1.25 billion, or $39,411 per Bitcoin.”
Meanwhile, the price of Bitcoin at the time of publication is $43,081. The average price of Bitcoin recorded by MicroStrategy is approximately 9% lower than today’s price.
Michael Saylor’s recent statements on Bitcoin
However, in December 2023, Saylor said that the recent approval of the Spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) outpaces most of the developments in traditional finance seen in the past few decades. he declared.
“It’s not unreasonable to suggest that this could be the biggest development on Wall Street in the last 30 years.”
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It was recently reported that Saylor was considering selling his MicroStrategy stake.
On January 3, BeInCrypto reported that Saylor had held discussions with regulators to exercise his MicroStrategy stock options. He owned 315,000 shares worth about $216 million, according to filings.
However, during the fourth quarter conference call, Saylor said: explained He was granted stock options worth 400,000 shares in 2014.