MicroStrategy is Ignoring BTC Market Uncertainty, Going for Another Big Buy
Ever since the beginning of the third quarter of the year 2020, a company that has managed to stay in the crypto-headlines is MicroStrategy. The reason behind the company’s constant mentioning in the crypto-verse is its dedication and trust that it has in Bitcoin (BTC).
Since the third quarter of the year 2020 started, the software and business intelligence company is busy making huge Bitcoin (BTC) purchases. Even the founder and CEO of the company, Michael J. Saylor is one of the top proponents of Bitcoin (BTC).
Since August of 2020, the company has been mentioned as one of the most aggressive non-crypto companies that have been investing in Bitcoin (BTC). So far, the company has amassed more than 90,000 bitcoin (BTC) in its stash and the company does not seem to be stopping any time soon.
Less than two weeks back, it was announced by Michael J. Saylor (CEO of MicroStrategy) that the company had made a huge purchase of around $950 million in Bitcoin (BTC). As a result, the company had ended up purchasing around 19k Bitcoin (BTC).
This investment helped Bitcoin (BTC) gain a surge with respect to its price and it ended up crossing the $59k per BTC barrier. Bitcoin (BTC) managed to hit this barrier back on February 21, 2021, and since then, the digital asset is observing a price drop.
At the time of publishing, the price of BTC in the market is around $48k per BTC but few days back it was below $44k per BTC.
This resulted in the entire bitcoin (BTC) market losing confidence in the asset and there is currently a lot of uncertainty found among the Bitcoin (BTC) investors and analysts.
Surprisingly, even the current uncertainties from the majority of the Bitcoin (BTC) investment community are not able to de-motivate MicroStrategy. The company is determined to remain bullish and have its sentiments in the favor of the bullish run of the digital asset.
Staying loyal to Bitcoin (BTC) and its bullish run, MicroStrategy has managed to make yet another investment in the digital asset. Once again, MicroStrategy has managed to make it to the top of the cryptocurrency headlines by making an investment of $10 million in Bitcoin (BTC).
There are possibilities that MicroStrategy made the $10 million worth of BTC purchase either on Thursday, March 4, 2021, or it did it on Friday, March 5, 2021.
Regardless of the date, the founder/CEO of MicroStrategy, Michael J. Saylor has confirmed that the firm has indeed gone for the purchase. This time, the firm has acquired a total of 205 BTC by spending $10 million in cash.
As of now, the company’s Bitcoin (BTC) stash holds a total of 91,064 BTC. At the time of publishing, the total 91,064 BTC translates to $4.3 billion.