MicroStrategy Immune To Crypto Market Dips, Loads Up Additional $242 Million Worth Of Bitcoin

MicroStrategy Immune To Crypto Market Dips, Loads Up Additional $242 Million Worth Of Bitcoin
фото показано с : zycrypto.com

2021-9-14 18:22

At the time of this report, the cryptocurrency market is suffering major losses in the last 24 hours. The standard cryptocurrency Bitcoin is not exempt from the bearish storm that struck itself and the majority of the leading altcoins.

Bitcoin currently trades at a price of $44,121, as losses continue to increase. The market lost momentum mid-last week when billions were liquidated from the Bitcoin market. The result has left investors panicking, but institutional firms like MicroStrategy show themselves to be unfazed by the bloodbath.

MicroStrategy ignores bear storm, acquires over $200 million worth of Bitcoin 

Reiterating its bullish stance on the market, the enterprise business intelligence (BI) application software vendor led by popular Bitcoin proponent Michael Saylor has bought $242.9 million worth of Bitcoin this month. The purchase was made at an average price of $48,099 per Bitcoin, making it an extra 5,050 Bitcoins added to the company’s total holdings of 114,042 bitcoins, acquired for $3.16 billion, at an average price of $27,713 per bitcoin.

If it wasn’t previously clear where MicroStrategy stood with Bitcoin, the company’s constant purchase of the asset during major market dips is changing that. As Saylor had stated repeatedly, the company is in for the long term.

Aside from heading the company with the highest Bitcoin holding, Saylor is also a staunch Bitcoin evangelist who continues to preach the relevance of Bitcoin in today’s market. With recent reports about Bitcoin’s energy consumption spike sparking a debate between proponents and critics, Saylor has taken to Twitter to back up his favorite cryptocurrency, explaining that Bitcoin’s energy usage is nowhere near excessive. 

“Bitcoin does not consume electricity to process transactions. Bitcoin transactions on Layer 2 platforms like Lightning or Layer 3 applications like CashApp are instantaneous & effectively free. The electricity is used to secure the network and ensure its integrity over time.”

Another interesting take was shared in a response tweet to the report that the Canadian government is going to ban foreign ownership in Canada for the next two years and tax the existing vacant, foreign-owned properties. He proposes digital property ownership as the solution, adding that Bitcoin is the pathway through.

“This policy deprives foreigners of their property rights and impairs the value of all residential property in Canada, thereby destroying wealth. This is why investors need to replace real property with digital property. Bitcoin is hope for Canada.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034358 (-100%)

bitcoin cryptocurrency market exempt standard hours bearish

Источник: zycrypto.com

bitcoin cryptocurrency → Результатов: 126


Bitcoin Champion Max Keiser Blasts Argentinian President’s Crypto Stance

Argentina and El Salvador, both facing economic struggles, are taking vastly different approaches to cryptocurrency. While El Salvador became the first country to adopt Bitcoin as legal tender in 2021, Argentina’s new president, Javier Milei, is taking a more measured route, prioritizing regulation and differentiation between the crypto and the broader cryptocurrency landscape. Bitcoin Distinction […]

2024-4-3 20:00


Market Dynamics Point To Potential Cryptocurrency Surge As Traders Get Set For Another Bitcoin Pump

Cryptocurrency traders are accustomed to Bitcoin and other assets charting their own course, often independent of traditional stocks and industries. However, recent highs in the S&P 500 and gold markets are generating a buzz within the crypto community, with many anticipating a positive divergence that could drive BTC and altcoins […]

2024-3-29 07:58


Bitcoin needs to step aside, the next Bitcoin with a real product is here

Bitcoin (BTC) is the first and largest cryptocurrency by market cap. However, the cryptocurrency landscape has greatly evolved since its creation in 2009. And Bitcoin Spark (BTCS), a new crypto project with a real-world product, is challenging Bitcoin’s supremacy by paving the way for a new era of cryptocurrency use cases. Bitcoin news BlackRock (BLK) […]

2023-8-17 04:10


Mining Company Offers First-Ever “Mine-to-Token” Cryptocurrency to Investors Looking for Exposure to Gold

Cryptocurrencies are highly volatile assets. Even Bitcoin, the most valuable cryptocurrency in the world by market capitalization, is still subject to 20% to 30% swings in price on any given day. This despite the fact it is the pioneering crypto project responsible for birthing the entire blockchain technology industry beginning with the publishing of the original Bitcoin whitepaper by Satoshi Nakamoto way back in 2008.

2021-9-25 08:20


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.