U.Today - In a recently published tweet, founder and currently the executive chairman of MicroStrategy Michael Saylor revealed the key elements of the successful strategy that has helped the company see mammoth growth both in market cap and in share price in the past four years.
Aside from that, recently published on-chain data has revealed that MicroStrategy has transferred a large Bitcoin chunk to a new blockchain address.
Nine key BTC principles for MicroStrategy's success
Bitcoin evangelist Saylor tweeted that “$MSTR is in an exclusive relationship with $BTC,” once again admitting that Bitcoin has been the major driver for the MSTR price over the past years.The “Bitcoin principles” shared by Saylor in that tweet are the following:
1. Buying and holding Bitcoin indefinitely, exclusively, and securely.
2. Prioritizing MSTR common stock long-term value creation.
3. Treating all investors with respect, consistency, and transparency.
4. Structuring MSTR to outperform Bitcoin via intelligent leverage.
5. Acquiring Bitcoin continually, while achieving positive BTC yield.
6. Growing rapidly and responsibly subject to market dynamics.
7. Issuing innovative fixed income securities backed by BTC.
8. Maintaining healthy, robust, and pristine balance sheet.
9. Promoting global adoption of Bitcoin as a treasury reserve asset.
This week, MicroStrategy announced a plan to raise a mind-boggling $42 billion over the next three years to buy an additional amount of Bitcoin. The company already holds approximately $18 billion worth of BTC — the fiat equivalent of 252,220 Bitcoins.
MicroStrategy shovels Bitcoin to new wallet
As reported by the @lookonchain analytics X account, several hours ago, the aforementioned business intelligence company MicroStrategy made a large Bitcoin transfer to a newly created BTC wallet.The X post revealed that Saylor’s company transferred 1,652 BTC valued at $114.38 million. This is just a tiny part of the company’s overall crypto stash, which contains 252,220 Bitcoins. According to @lookonchain's tweet, these coins were purchased at an average price of $39,266 per coin, with an unrealized profit of almost $8 billion.
The world’s largest cryptocurrency Bitcoin is currently changing hands at $69,583 after demonstrating a 2.36% loss as it left the $71,000 high. Since Tuesday, when Bitcoin topped the $74,000 high, coming close to its March historic peak, it has declined by 5.56% overall.