Microstrategy’s investment spree for Bitcoin continues as the company sends more liquidity into Bitcoin. Acquires more Bitcoins at the cost of US$ 10 Million. The total holding of Bitcoin is now approximately 100 K.
It is said that since 2020 there are 5 major players for Bitcoin who helped it grow massively. The first one is Microstrategy, second is Elon Musk and/or Tesla, the third is Square Inc. and the fourth and fifth are Grayscale and PayPal. Their contribution would be written in golden words in the history of Bitcoin because they were the ultimate source behind Bitcoin’s rally.
Apparently, they haven’t done away with Bitcoin and one way or the other continue to push the rally to extreme levels.
It has been informed by Microstrategy’s CEO, Michael Saylor, that the company has provided more liquidity to Bitcoin. He revealed injecting of funds into Bitcoin in a tweet post and informed that the investment comprised of US$ 10 Million. The latest acquisition was told to have taken place on 5th March, 2021.
As per the announcement, Microstategy acquired a total of 205 Bitcoins further @ US$ 48,888 p/BTC.
It was further revealed by Saylor in a tweet post that by the time of end April, 2020, the company injected US$ 2.2 Billion. In return the company acquired a total of 91,064 Bitcoins. But at that time, the company said each Bitcoin cost Microrstrategy only US$ 24,119. But on the basis of several further investments, now the total holding of Microstrategy comprising of Bitcoins has exceeded 100 K.
Saylor said that his company would continue to embark upon its investment drive into Bitcoin. He said that for Microstrategy, Bitcoin investment is a hedge against odd realities.
In his tweet, Saylor also provided the link showing that the latest acquisition of Bitcoin was duly apprised to Securities & Exchange Commission. The link redirects a visitor to Microstrategy’s Form 8-K filing which proves authenticity and regulatory compliance.
After coming to know about Bitcoin’s latest acquisition by Microstrategy, a debate emerged on social media networks. People were found stating that Microstrategy as well as its CEO were the first ones who discovered Bitcoin’s real potential. Some of the people suggested that the investment strategy is part of Microstrategy’s monopolistic plan. A plan that would continue to increase value of Bitcoin if it continues to accumulate more liquidity, they suggested.
The total Bitcoin supply available and circulating in crypto market is 21 Million. Out of this 21 million, approximately 0.4336% is held under ownership and possession of Microstrategy. The highest holding of Bitcoin is available with Grayscale Investment.
Some people with the crypto community mocked Saylor to suggest that Microstrategy has gone crazy about Bitcoin. They said that the company’s thirst for Bitcoin is never ending.