Skip to main content

Microstrategy uses Bitcoin correction and buys more for half a billion dollars



Bitcoin has been on a correction course since its all-time high in November. The BTC rate went down from just under 69,000 to below 43,000 US dollars. Bitcoin bull Michael Saylor and his company Microstrategy used the dip to buy more.

Michael Saylor, founder, and head of the data analysis company Microstrategy, is considered a big Bitcoin bull. The cryptocurrency is superior to investment alternatives such as real estate, precious metals, stocks, or raw materials because of the limitation to 21 million units. Saylor was recently convinced that the Bitcoin price will continue to rise in the coming years, despite all the volatility . The Microstrategy CEO has followed his words with deeds over the past few weeks.

Bitcoin bull buys 1,434 bitcoins

As the company announced in a corresponding letter to the US Securities and Exchange Commission on Thursday, Microstrategy bought a total of 1,434 Bitcoins between November 29 and December 8 and paid $ 82.4 million for them. That means a price of almost $ 57,500 per Bitcoin - so the greater part seems to have been bought before the last sharp slump last weekend . On Saturday, for example, it went down to less than $ 43,000. On Thursday evening, the Bitcoin price moved between $ 47,500 and $ 48,000.

Just about a week ago, according to Forbes , Microstrategy announced that the company had acquired 7,002 bitcoins between October 1 and November 29, paying an average of almost $ 59,200 for it - a total of $ 414.4 million. This means that the investment in Bitcoin by Microstrategy amounts to almost $ 500 million within a good two months.

Microstrategy: Turn 3.7 into 5.9 billion dollars

The current acquisition may look a bit unfortunate at first glance. After all, at the current price, the investment is worth almost $ 100 million less - a decrease of around 20 percent. However, like most Bitcoin bulls, Saylor's strategy is long-term. The growth so far shows that Microstrategy is right at the moment. The company currently has 122,478 bitcoins that were bought at an average price of less than $ 30,000. Microstrategy has turned $ 3.7 billion into around $ 5.9 billion.

Microstrategy is by far the largest Bitcoin company in the world. Also interesting: The market capitalization is currently 6.12 billion dollars, only slightly above the BTC volume held. Tesla in second place is said to have around 43,000 bitcoins.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more