MicroStrategy continues relentless pursuit of Bitcoin with a new $10 million purchase

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The CEO of MicroStrategy, Michael Saylor announced via Twitter that the company continues to pile up Bitcoin. 

When the cryptocurrency community yells out advice to buy the dip, Michael Saylor actually follows through. 

Saylor included in his Tweet the specifics of MicroStrategy’s most recent purchase.

The CEO stated that the March 5th buy included 205 bitcoins. MicroStrategy completed the deal for around $10.0 million in cash at an average price of around $48,888 per BTC.

According to Saylor, MicroStrategy now owns a total of 91,064 bitcoins. These coins were acquired by Saylor and MicroStrategy for about $2.196 billion at an average price of around $24,119 per bitcoin.

Bitcoin evangelist and host of the popular crypto podcast “The Pomp” is impressed by the conviction of Saylor and MicroStrategy. 

BREAKING: Microstrategy has purchased another 205 bitcoin for $10 million.

They now hold 91,064 bitcoin on their balance sheet.

This may be one of the greatest displays of conviction in public market history.

— Pomp (@APompliano) March 5, 2021

For years, people have wondered when the traditional financial sector would give in and start accumulating Bitcoin. And it seems like that time has finally arrived. With companies like Tesla getting into cryptocurrency, it’s clear that blockchain tech is headed toward the mainstream.

But Saylor and MicroStrategy have a clear leg up on their traditional financial industry peers due to their aggressive early moves and as Pompliano puts it “one of the greatest displays of conviction in public market history.”

Mark Cuban, the Dallas Mavericks owner, and star of NBC’s Sharktank once said that cryptocurrency needs to be so easy to use that grandma can do it. As billion-dollar companies and industry leaders like PayPal, Visa, Square, and Mastercard continue to join the crypto party, it is hard to imagine that blockchain technology won’t be mainstream and in use by Grandmas and Grandpas around the world before long.