While many are waiting for a rebound in the price of bitcoin, Microstrategy is raising $ 10 million to buy bitcoins. Adding its $ 5 million, the company bought 262 bitcoins.
Interestingly, Microstrategy CEO Michael Saylor reports on every purchase to both the SEC and the community.
Even though the price dropped below what Microstrategy paid ($ 57,146 per BTC) right after Sailor's tweet, the company's dollar-averaging strategy has paid off so far. The company's total ownership is now 91k + BTC and is worth more than $ 5.1 billion, but the average BTC value in a portfolio of $ 24,214 shows that all these bitcoins were worth $ 2.2 billion to the company.
I know that many traders will say that Michael Sailor chose the wrong time to buy, but the overall result of the company is impressive. The strategy of averaging the cost of buying BTC in small parts, but regularly, always shows in the end a large profitability and eliminates errors that lead the statistical majority of traders to large losses.
Why is Sailor doing this and not otherwise? Very simple. It is enough to take into account two of his statements:
We won't sell our bitcoins even after 100 years.
Bitcoin will be worth over $ 15 million.
Moreover, the future is not an object of blind faith, Sailor has a coherent theory and logical explanations for the inevitability of such a future bitcoin.
