MicroStrategy now holds roughly $800 million in Bitcoin

What we thought was possibly a one time investment is looking very much like something that could become the norm going forward.

After pouring more than $400 million into bitcoin a couple months ago, MicroStrategy put another $50 million in the other day.

They bought 2,574 bitcoin at an average price of $19,427 per coin.

This brings their total bitcoins held to 40,824, which is worth slightly under $800 million at current prices.

(Source:

https://twitter.com/michael_saylor/status/1334990791496884224

- michael_saylor

)

If MSTR is willing to buy at $19k, perhaps we should be too...

The really interesting thing to me with this purchase is that they had no problem buying at $19,427 per coin.

Most out there might consider that a "high price to pay" for bitcoin considering where it came from over the last couple years.

However, my guess is that CEO Michael Saylor is much more concerned with where bitcoin is going than he is with where it came from.

With news coming out from the Comptroller of the Currency saying that new regulations are coming for bitcoin and crypto but these regulations will seek to foster crypto and not stifle it, a major black cloud was removed.

Specifically, he said they have no plans of banning bitcoin, which I would think was a major green light to anyone factoring that in a risk to investing in bitcoin.

Hint, a bunch of institutions are/were factoring that in.

With that removed, prices are going higher.

Trust but verify...

The cool thing about bitcoin and crypto in general is that you don't have to just take someone's word that they bought something, you can verify it with enough information.

In MicroStrategy's case, they are a publicly traded company and must file purchases with the SEC.

So, we have more than just a tweet to go off of in order to verify what they are doing.

Check it out:

(Source: https://www.sec.gov/ix?doc=/Archives/edgar/data/1050446/000119312520310787/d22733d8k.htm)

The last time MSTR started dumping their cash reserves into bitcoin, the price ended up doubling from that point over the following months.

Will history repeat this time around?

It just may...

Stay informed my friends.

-Doc