{"id":28909,"date":"2020-09-19T11:16:49","date_gmt":"2020-09-19T08:16:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28909"},"modified":"2025-08-27T13:59:06","modified_gmt":"2025-08-27T10:59:06","slug":"microstrategy-ceo-reveals-details-of-175m-bitcoin-purchase","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/microstrategy-ceo-reveals-details-of-175m-bitcoin-purchase\/","title":{"rendered":"MicroStrategy CEO reveals details of $175m Bitcoin purchase"},"content":{"rendered":"<p>74 hours of continuous trading, 88,617 orders for 0.19 BTC every three seconds or $39,414 in BTC per minute. This is how, according to MicroStrategy CEO Michael Saylor, the company organised the purchase of its latest tranche of cryptocurrency.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">To acquire 16,796 BTC (disclosed 9\/14\/20), we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each 3 seconds. ~$39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward spike.<\/p>\n<p>\u2014 Michael Saylor (@michael_saylor) <a href=\"https:\/\/twitter.com\/michael_saylor\/status\/1306940165160656897?ref_src=twsrc%5Etfw\">September 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He added that the company was prepared to spend $30-50 million on the Bitcoin purchase within a few seconds if its traders could catch a 1-2% downward spike in price.<\/p>\n<p>In August, the analytics-software provider <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-becomes-the-first-nasdaq-listed-company-to-invest-part-of-its-capital-in-bitcoin\">bought<\/a> 21,454 BTC (~$250 million at the rate at the time of the deal), becoming the first public company to allocate part of its capital to Bitcoin. MicroStrategy shares trade on the Nasdaq.<\/p>\n<p>Earlier this week the company purchased a further 16,796 BTC for $175 million. Total MicroStrategy investments in Bitcoin, including fees and expenses, were valued at $425 million by Michael Saylor.<\/p>\n<p>This was preceded by a decision by the company&#8217;s board of directors on a new reserve-management policy, confirming readiness to ramp up investments in Bitcoin and to use the cryptocurrency as the primary reserve asset on a permanent basis.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>74 hours of continuous trading, 88,617 orders for 0.19 BTC every three seconds or $39,414 in BTC per minute. This is how, according to MicroStrategy CEO Michael Saylor, the purchase of the latest batch of cryptocurrency was organised.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1207],"class_list":["post-28909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-microstrategy"],"aioseo_notices":[],"amp_enabled":true,"views":"110","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=28909"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28909\/revisions"}],"predecessor-version":[{"id":28910,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/28909\/revisions\/28910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=28909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=28909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=28909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}