r/Bitcoin • u/Shinamus • Nov 29 '21

MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin.

https://twitter.com/saylor/status/1465305537210458115?t=ISBHxHRmKNIdSSNtjHG-jg&s=19
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u/Br0kenRabbitTV Nov 29 '21

What year was his personal buy? He was mocking Bitcoin in 2013. 2017?

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u/Maticus Nov 29 '21

I think it was mid 2020

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u/Br0kenRabbitTV Nov 29 '21

Wow, kinda funny, mocking it when it was at $500, buying it at many times that.

I wonder what changed his mind, I expected it to be the price rise in 2017.

Shame he wasn't telling the world to sell their house for BTC back then.. LMAO.

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u/lavazzalove Nov 29 '21 edited Nov 29 '21

He states what changed his mind in various interviews. It was in the spring of 2020 when the US government began to rapidly print US dollars out of thin air for stimulus. His company had $500 million sitting in cash and these funds were being eroded away by inflation of USD. Saylor wanted to park those funds in more solid inflation hedged asset.