Microstrategy Officially Posts a Profit as it Buys Another 12,333 BTC for $347M

Microstrategy - led by Michael Saylor - has been on a Bitcoin buying rampage ever since they got into the space. They started by dipping their toes in but it wasn't long until they were full force into the waves of this industry.

Their mission and message has been heard worldwide as other companies step in to take a closer look at what they're up to.

During the bull market, they seemed like geniuses.

Then the bear market hit. Many started to question their plans. Some thought they would go under because of their debt obligations.

But anyone who followed closely saw what was happening. They were turning themselves into a proxy ETF and simultaneously acquiring a ridiculously large Bitcoin position.

At this point, it's quite obvious that Microstrategy has made all of the right moves.

Their BTC holdings are officially profitable as their break even price is just below $30k.

152,333 BTC Acquired at $29,668

Microstrategy has been the king of dollar-cost averaging into Bitcoin.

With an asset as volatile as BTC, dollar-cost averaging can save you from emotionally buying or selling at the wrong time. It can save you from buying in at the top or selling at the bottom.

I deploy dollar-cost averaging in my everyday life. I am constantly - and more importantly, consistently - buying Bitcoin.

Microstrategy did not amass one of the largest Bitcoin positions in the world overnight. It was slow. It was methodical. They bought when everyone told them not to.

Buying When There's Blood in the Streets

It's easy to buy something when it's going up. The promise of it "continuing to go up" is so easy to buy into relative to something that is going down.

Retail investors - friends and family - will cheer you on as you buy something that is going up.

But when the opposite is happening. When we are in the midst of a deep bear market... they'll all laugh at you. They'll call you crazy.

They'll tell you to be realistic and don't throw your money away.

You can bet your ass that people were telling Michael Saylor and Microstrategy things like that.

Did they listen? No.

Have they turned out to be right in the long-run? Yes.

Being profitable on their BTC position is a huge change in the game for them. People can't quite laugh at them so hard when a simple 25% move in the BTC price can add $1B to their balance sheet.

The lesson?

• Dollar-cost average, even when they laugh at you... ESPECIALLY when they laugh at you.

About LeoFinance

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.

Our mission is to democratize financial knowledge and access with Web3.

Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io

Our Hive Applications

Join Web3: https://leofinance.io/
Microblog on Hive: https://leofinance.io/threads
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
BSC HBD (bHBD): https://wleo.io/hbd-bsc/
BSC HIVE (bHIVE): https://wleo.io/hive-bsc/
Earn 50%+ APR on HIVE/HBD: https://cubdefi.com/farms

Web3 & DeFi

Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:

CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io

Posted Using LeoFinance Alpha