MicroStrategy is an American company founded by Michael Saylor. It has increased its Bitcoin holdings to 11,000 BTC (equivalent to $1.1 billion) as revealed by a post by the executive in the field of business intelligence on X.com.
MicroStrategy’s $1.1 Billion Bitcoin Purchase
Saylor posted on Tuesday that the company’s total Bitcoin holdings now stand at 461,000 BTC valued at approximately $29.3 billion. The average price per Bitcoin in this company’s portfolio is $63,610.
The official filing of MicroStrategy with the United States Securities and Exchange Commission indicates that the purchase was completed during the week ended January 19.
This acquisition solidifies Virginia-based company’s position as one of largest corporate Bitcoin holders.
Saylor took part in the celebrations on Capitol Hill. She posted photos with Donald Trump’s son and daughter-in-law Jared Kushner and Department of Government Efficiency Director Vivek Ramaswamy.
Saylor , in photos of the event, quipped: “The future looks bright.”
Crypto Community Awaits Executive Order
MicroStrategy’s latest acquisition coincides with ongoing discussion about cryptocurrency regulations in United States.
President Donald Trump has stated his support for the industry of digital assets. He also said during his campaign, and at the Bitcoin 2024 Conference, that his administration will work to create a crypto-friendly legal framework.
Trump said at the conference that “we will have regulations but now the rules will be written not by people who hate your industry, but those who love it.”
Some in the cryptocurrency industry were disappointed that no mention was made of digital assets or blockchain in the White House’s official briefing on January 20, which outlined Trump’s first priorities. The focus was immigration and government efficiency.
As of Tuesday morning, reports had indicated that Trump would sign an executive order related to cryptography on his first official day. However, no such announcement was made.
Jake Chervinsky , CLO of Variant Fund, commented on X on a possible executive order related to cryptography. He cautioned however that the immediate impact would be minimal.
