MicroStrategy Buys 6,455 Bitcoins, Signuptoken.com Set to Go Live at 1M Emails

According to a filing by the SEC, Business Intelligence Firm MicroStrategy bought 6,455 Bitcoin over the last 5 weeks.

This update comes as Bitcoin is going through an upwards rally, having increased by approximately 20% over the past month.

MicroStrategy was the first publicly traded company in the U.S. to buy Bitcoin. At the time, the company purchased 21,454 bitcoins. Crypto investments are not new for Michael Saylor – the company's founder – as well. The latest purchase rounds up MicroStrategy's holdings up to 138,955 Bitcoins.

In volatile times like this, where UBS is buying shares in distressed bank Credit Suisse and investors are lacking assurance when it comes to investing in typical stocks, Bitcoin hit a nine-month-high and neared $30,000, hinting at a preference for alternative assets from investors.

If Bitcoin were priced at $27,900, that would place the value of the holdings at $3.88 billion.

Overall, despite the company's sale of Bitcoin in December 2022, MicroStrategy remains a net buyer of the cryptocurrency.

The company also cleared off the remainder of its $205 million loan backed by Bitcoin through the sale of its shares.

The final settlement of the loan has been a long time coming since it was retired 2 years ago.

MicroStrategy was created in 1989 by Michael Saylor. Over years of careful planning, the company has built an entire integrated product line from scratch and is an independent vendor.

The company's product suite includes hyperintelligence, embedded intelligence, cloud consulting, and analytics tools.

MicroStrategy was able to revive its depressed stock price from losses during the 1990s and 2000s after gaining media attention from buying Bitcoin.

While Bitcoin was a known digital currency well before MicroStrategy made its first purchase, the idea that companies would buy it in bulk was not feasible because it was too volatile.

But when the price became too big to ignore, MNCs, particularly in the tech sector, pitched in money for Bitcoin.

Another well-known company that bought Bitcoin soon after MicroStrategy did was EV manufacturer Tesla. The company invested $1.50 billion as per an SEC filing.

Similar to MicroStrategy, Tesla sold some of its holdings in Q1 2021.

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