Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
An SEC filing revealed the purchase. Meanwhile, CEO Michael Saylor defended Bitcoin again; he said it will continue to follow because of its technological potential and because of fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. inflation.
MicroStrategythe company ofsoftware business intelligence firm and the largest institutional investor in theBitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions.again exchanged several million dollars in cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. to add morebitcoinsa su balance.
According to a documento filed with the Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) of the United States, the firm acquired 1,434 bitcoins a for a total value of USD $82 million. . The purchase was made between November 29 and Wednesday of this week, according to the official presentation. The company indicated that it spent USD $57,477 per unit ofBitcoin.
The latest acquisition ofbitcoins follows a previous purchase for USD $415 million which carried outMicroStrategy between October 1st and the end of November.
MicroStrategy buys Bitcoin at a discounted price
Las fechas de la última adquisición de Bitcoin deMicroStrategy suggests that the company would have taken advantage of falling prices in the digital currency currency is a medium of exchange that defines value. market an area or arena, online or offline, in which commercial dealings are conducted. to make the purchase.
In the last two weeks,Bitcoin has registered a major correction a correction is a pullback of an asset’s price of at least 10% to adjust for over-valuation. that has seen its price drop below the USD $50,000 barrier. The drop comes shortly after the flagship cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. conquered a new all-time high near USD $70,000 in mid-November. As of press time, BTC is trading around $48,500.
This isn’t the first time the company has taken advantage of a drop in prices to add more bitcoins to its treasury.MicroStrategy ha been addingbitcoins to its balance sheet aggressively from August 2020 as part of the firm’s strategy to hedge against fiduciary inflation.
Investment inBitcoin has become somewhat routine for the firm, which this year has become the cryptocurrency’s biggest institutional whale. And there is no doubt that the strategy has proved successful so far, as the firm has doubled its investment.
The most recent cryptocurrency purchase has boosted the company’s treasury to a total of 122,478bitcoinsaccording to the December 8 presentation.MicroStrategy has spent an average of USD$3.66 billion to acquire digital asset funds, a fortune currently valued at more than $6 billion.
Saylor continues to defend Bitcoin
Como en ocasiones anteriores, el CEO de la firma, Michael Saylor, -quien ha dirigido la estrategia de inversión de Bitcoin– announced the purchase through his Twitter account. He also took the opportunity once again to recomendar its nearly 2 million followers to keep the flagship cryptocurrency in their portfolios.
Saylor, who has become a prominent advocate for the leading cryptocurrency, also shared a recent Yahoo Finance interview where he again spoke out in favor ofBitcoin. He assured that the price of the so-called “digital digital technologies are these electronic tools that have the ability to generate, store or even process data. gold“will continue to rise due to factors such as fiat currency inflation, its underlying technology and increasing adoption.
Bitcoin is the best engineered asset to guard digital property in the 21st century. We have 12 years of history and it has never been hacked. There is a very great need for a non-sovereign form of value that moves at the speed of light on technological networks. Bitcoin resulta ser el activo más fuerte, mejor y más dominante para satisfacer esa necesidad hoy en día.
— Michael Saylor⚡️ (@saylor) December 9, 2021
- Bitcoin is the lowest risk asset you can buy, says Michael Saylor, CEO of MicroStrategy
- Michael Saylor, CEO of MicroStrategy, says proper regulation will be hugely beneficial to Bitcoin
- MicroStrategy’s Bitcoins are worth more than the cash of many of the top companies in the S&P 500
Article by Hannah Estefania Perez /DiarioBitcoin
Image from Unsplash edited in Canva