- Such consistent purchases of BTC are proven by some recent acquisitions of 18,300 BTC and 7,420 in part.
- The confirmation of the company’s long-term focus on Bitcoin as a reliable store of value regardless of the fluctuations in the market.
- The present holding of bitcoins by MicroStrategy might lead to fluctuations in the price perhaps whenever the next halving in 2024 is near.
MicroStrategy, the Business Intelligence company that recently became famous for its active buying of Bitcoin has amassed an impressive 252200 BTC. This increase is after two recent acquisitions that saw the company buy 18,300 BTC and 7,420 BTC respectively. Its holdings amount to 1.276% of the current supply of bitcoins, which allows the company to be considered one of the largest corporate holders of Bitcoin in the world.The latest additions were made in two major purchases last week, which indicate MicroStrategy’s confidence in Bitcoin as an investment in the long run.
The first acquisition was 18,300 BTC and the second purchase was 7,420 BTC. These purchases are part of the company’s long-term plan to acquire Bitcoin. A strategy that was started by CEO Michael Saylor who has time and again elaborated on why Bitcoin is better than fiat currency and a perfect hedge against inflation.
Strategic Implications of Holding 1.276% of Bitcoin Supply
MicroStrategy currently holds 252,200 BTC, which comprises 1.276% of the total circulating Bitcoins – a large portion of the limited 21 million Bitcoins. This increasing investment position reflects the company’s understanding of the scarce value by-product of Bitcoin and its position in the emerging financial systems. MicroStrategy has a large bitcoin position, and as the cryptocurrency nears the next halving event in 2024, its stake could ‘bring tailwinds’ during periods of high demand.
MicroStrategy has consistently bought Bitcoins over the years and this is proof that it believes in the asset in the long term. With over 250,000 BTC, MicroStrategy is perfectly placed to reap huge benefits in a world that is going more digital and decentralized. MicroStrategy’s continuous accumulation of Bitcoin shows that institutions are not dissuaded from owning bitcoin, and this solidifies the place of Bitcoin in companies’ and even macroeconomic policies.
Read CRYPTONEWSLAND on
google news
disclaimer read more
Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
