Michael Saylor announced a $299 million “Bitcoin Gift” to MSTR holders

Michael Saylor announced
Cover image via Yo today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.

Michael Saylor, founder of business intelligence firm MicroStrategy, who currently serves as executive chairman in charge of its Bitcoin strategy, took to social media platform X to reveal the net interest paid last week to the company's BTC shareholders.

Saylor described it as a "gift" from Bitcoin to the company's shareholders.

$299 million “Bitcoin gift” to MSTR shareholders

Saylor tweeted that last week, his company's treasury operations resulted in a 0.72% Bitcoin yield with a net interest of about 3,177 BTC. Taking into account the BTC price of around $94,000 per coin observed yesterday and earlier today, the BTC return is worth around $299 million in Christmas “gift” to MicroStrategy shareholders.

Thus, the founder of MicroStrategy emphasized the company's commitment to increasing shareholder value via strategic Bitcoin accumulation and return generation strategies. The company's strong treasury management and strategy focused on Bitcoin as a store of value have earned it a leading position among publicly traded companies embracing Bitcoin.

Related to

Bitcoin's Massive Reversal Explained by Bloomberg's Mike McGlone: ​​Details

Another recent Bitcoin purchase by MicroStrategy

On Monday, the company surprised the financial markets by announcing another massive Bitcoin accumulation as it acquired $561 million worth of Bitcoin in addition to its other Bitcoin purchases made over the past two months. The average purchase price was about $107,000 per coin.

As of now, Michael Saylor's company has a whopping 444,262 BTC worth around $27.7 billion USD purchased at an average price of $62,257 per BTC.

Earlier today, Saylor posted a tweet defending his company's Bitcoin accumulation strategy, saying that if you don't buy Bitcoin at the top, you are "leaving money on the table."



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *