Microstrategy Buys More Bitcoin After SEC Says BTC Is a Commodity — Company Now Hodls 129,699 Bitcoins

Microstrategy Buys More Bitcoin After SEC Says BTC Is a Commodity — Company Now Hodls 129,699 Bitcoins

Microstrategy has purchased more bitcoin amid a heavy market sell-off. The announcement followed a clarification by the chairman of the U.S. säkerhet och utbytesprovision (SEC), Gary Gensler, stating that bitcoin is a commodity.

Microstrategy Buys the Dip

The Nasdaq-listed software company Microstrategy has bought the bitcoin dip again. In a Wednesday filing with the U.S. säkerhet och utbytesprovision (SEC), the company declared that during the period between May 3 and June 28, it “acquired approximately 480 bitcoins for approximately $10.0 million in cash, at an average price of approximately $20,817 per bitcoin, inclusive of fees and expenses.” The filing adds:

As of June 28, 2022, Microstrategy, together with its subsidiaries, held an aggregate of approximately 129,699 bitcoins.

Övergripande, the company’s BTC “were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,664 per bitcoin, inclusive of fees and expenses,” the filing further details.

Microstrategy recently dispelled the rumor that it may be facing a margin call on a bitcoin-backed loan from Silvergate Bank.

Michael Saylor, the CEO of the Nasdaq-listed software company, sa in May: “We are in it for the long term … Our strategy is to buy bitcoin and hold the bitcoin, so there’s no price target. I expect we’ll be buying bitcoin at the local top forever.” He added: “I expect bitcoin is going to go into the millions. So, we’re very patient. We think it’s the future of money.”

Microstrategy’s latest bitcoin purchase announcement followed a statement by SEC Chairman Gary Gensler earlier this week clarifying that bitcoin is a commodity. The company was in the middle of acquiring the latest batch of BTC when Gensler made a comment about BTC being a commodity.

Saylor tweeted in response to Gensler’s clarification:

Bitcoin is a commodity, which is essential for any treasury reserve asset.

He continued: “This allows politicians, agencies, governments, and institutions to support bitcoin as a technology and digital asset to grow the economy and extend property rights and freedom to all.”

Bitcoin, being a commodity, falls under the purview of the Commodity Futures Trading Commission (CFTC). The chairman of the derivatives watchdog, Rostin Behnam, recently said that bitcoin and ether are commodities.

The SEC has been seeking to collaborate with the CFTC on crypto regulation. Last week, Gensler proposed having “one rule book” for the regulation of crypto trading. The SEC chairman warned last month that a lot of crypto tokens will fail.

Taggar i denna berättelse

What do you think about Microstrategy buying the bitcoin dip? Låt oss veta i kommentarfältet nedan.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Bildkrediter: Shutterstock, Pixabay, Wiki Commons

varning: Den här artikeln är endast i informationssyfte. Det är inte ett direkt erbjudande eller uppmaning till ett erbjudande att köpa eller sälja, eller en rekommendation eller rekommendation av någon produkt, tjänster, eller företag. krakow3d.com ger inte investeringar, beskatta, Rättslig, eller redovisningsrådgivning. Varken företaget eller författaren ansvarar, direkt eller indirekt, för alla skador eller förluster som orsakas eller påstås vara orsakade av eller i samband med användningen av eller tilliten till något innehåll, varor eller tjänster som nämns i denna artikel.

Läsa varning