- MicroStrategy acquired another $ 177 million in BTC which equates to an additional 3,907 BTC.
- This acquisition occurred when BTC was at an average price of $ 45,295 per unit.
- With this new acquisition, the firm has a total of 108,991 BTC in its reserves.
The price of Bitcoin (BTC) rises and falls, but there are people who continue to accumulate confidence that beyond prices, BTC is going to revolutionize even more.
This is the case of the signature MicroStrategy who has taken advantage of BTC falling below $ 50,000 to accumulate more BTC How big is the MicroStrategy hodl?
As announced by the CEO of the tech firm, Michael Saylor, it was revealed that MicroStrategy would have acquired other $ 177 million in BTC at an average price of $ 45,295 per unit. Which is equivalent to 3,907 additional BTC.
MicroStrategy leads BTC possession
With this, the technology firm continues to separate even more from the second place as the public company with the most accumulated BTC in the world, with Tesla being the second with 43,200 BTC.
In total, MicroStrategy has a dizzying 108,991 BTC, or more than $ 5 billion. In total the company has made almost $ 2 billion dollars thanks to the rise of the world’s first cryptocurrency.
Did buying contribute to the growth of BTC?
During the course of the week the price levels of the world’s first cryptocurrency returned above $ 50,000 for the first time in 3 months.
But, after Michael Saylor’s post about his company’s purchase of BTC, many began to connect the dots. Since, as you can read in the press release, cryptocurrencies were not purchased between July 1 and August 23, 2021.
One of those who commented on this theory was Peter Schiff, known to be a detractor of Bitcoin and cryptocurrencies since He expressed that this purchase had caused a decrease in the supply of available BTC, but, once large companies stop buying the price of Bitcoin will tend to fall.
In addition, he alerted what many of MicroStrategy’s critics have expressed, that the company has a problem in continuing to use shareholder money to buy BTC, and that when the firm tries to sell the cryptocurrencies it will cause chaos throughout the cryptocurrency market. .
How much is the ceiling for MicroStrategy?
Inside and outside the world of cryptocurrencies the accumulation of large amounts of cryptocurrencies in a few hands could trigger a price collapse at any time.
However, the CEO of the firm has become, since the beginning of the coronavirus pandemic, an important benchmark for Bitcoin and cryptocurrencies for the institutional world.
Their contributions not only conclude in the acquisition of BTC, but in supporting different crypto startups and even in the creation of an organization where the world’s crypto miners can report your progress on different issues, such as the use of energy. green.
“Just because the Bitcoin network is decentralized doesn’t mean it’s messy”, Expressed the CEO of Microstrategy.
It was this same organization, called The Bitcoin Mining Council, which revealed the figure that the vast majority of Bitcoin miners are using at least a mix of 50% green energy. Furthermore, it was this same figure that led Elon Musk to back down on his concerns about the contamination of the crypto mining sector.
Additionally, both the firm as its head have continuously affirmed their commitment to continue accumulating cryptocurrencies and insist that they do not have a target figure. Do you believe the words and actions of Microstrategy and Michael Saylor?
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