Throughout the month of January, Michael Saylor’s MicroStrategy firm purchased an additional 850 Bitcoin, amounting to roughly $37.2 million.
Furthermore, the firm declared that since the end of September 2023, they have acquired a significant amount of Bitcoin, taking advantage of the market volatility to record an average purchase price below what the current price of Bitcoin is today.
“31,755 bitcoins acquired since the end of Q3 for $1.25 billion, or $39,411 per bitcoin.”
Meanwhile, Bitcoin’s price is $43,081 at the time of publication. The average price that MicroStrategy has acquired its Bitcoin is approximately 9% lower than today’s price.
Michael Saylor’s Recent Bitcoin Statements
However, in December 2023, Saylor declared that the recent approval of the spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC) surpasses most traditional finance developments seen over the past few decades.
“Its not unreasonable to suggest that this may be the biggest development on Wall Street in the last 30 years.”
The approval of the spot Bitcoin ETFs was one of the three catalysts that Saylor believed would need to happen before Bitcoin’s price could hit $5 million.
One of the others was fair value accounting rules from FASB, which were approved in December 2023. However, one catalyst remains outstanding: banks’ custody and lending of Bitcoin as collateral.
More recently, it was reported that Saylor has been exploring selling MicroStrategy stock (MSTR).
On January 3, BeInCrypto reported Saylor engaged with the SEC to exercise MicroStrategy stock options. According to the filing, he held 315,000 shares worth around $216 million.
However, in a fourth-quarter conference call, Saylor explained that he was granted a stock option in 2014 for 400,000 shares.
