Michael Saylor Reveals Amount of Bitcoin in his Control

Michael Saylor, the CEO of MicroStrategy, has revealed on his Twitter account that he controls up to 111,000 Bitcoin. MicroStrategy, an Analytics company, has steadily increased its bitcoin ownership. Despite the current bearish crypto market, the firm has continued its purchase of the leading digital asset, taking its stash to as high as over 92,000 units of the coin.

In his tweet, Mr. Saylor stated that “entities I control have now acquired 111,000 #BTC and have not sold a single satoshi.” This value may be the cumulative value of the digital gold from the entities under his control as well as his personal stash.

Saylor, who has been secretive about how much he has personally invested in bitcoin, had revealed in October 2020 that he personally owned about 17,732 BTCs.

While the uptake and adoption of cryptocurrencies are continuing to increase globally, the markets have been unstable, with the price of Bitcoin tanking to $30,000, a drop of almost 30 percent.

This is the lowest it has been since April with that of ethereum going as low as $2,235, dipping by 30 percent. Dogecoin has also suffered a massive blow going down by about 30 percent .

This plummet may be attributed to environmental concerns that have been recently raised over the carbon footprint of cryptocurrencies by key sector players such as Elon Musk. Tesla had previously invested $1.5 billion in bitcoin.

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