Michael Saylor Buys More Bitcoin With Preferred Shares

Michael Saylor, the founder of a company called Strategy which was previously known as MicroStrategy, is on a shopping spree and if you're familiar with the guy and have looked at my blog title you know exactly what he's spending his money on, Bitcoin. His company purchased 10,100 Bitcoins from June 9 to June 15 at a cost of $1.05 billion dollars, averaging $104,080 per Bitcoin.

God in heaven don't let this guy dump or it's going to be massive.

Source from chatgpt ai image generation

What is interesting is how the company paid for this transaction. They didn't use common stock or the typical company shares, rather they relied on preferred shares. This marks the third week in a row the company made a purchase like this using preferred shares. Just in case you're not a aware of what Preferred shares are and you ain't got the energy to open chatgpt and search, it's just a unique kind of stock that typically give fixed dividends to investors, while also being safer than common stock.

This is also the biggest Bitcoin buy Strategy has made in the last five weeks. That makes the company's total Bitcoin ownership worth about $63.4 billion dollars.

Despite criticism over this strategy, Micheal Saylor is still going to be Micheal saylor, the biggest believer in Bitcoin. I'm sure somewhere out there if Nakamoto is still alive, he's shocked at what Micheal Saylor is doing, unless if it turns out the future that Saylor was Satoshi Nakamoto.

Anyways, the entire company is showing that it is all in on the future of cryptocurrency. They have no intentions of slowing down. I actually admire the risk he's taking with Bitcoin. Perhaps as the rest of the world adopts, he's setting himself to be a man a great power and influence on earth. A decade later we might look back and say that there was a method to his madness.