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.
MicroStrategy isn’t the only one taking advantage of the fall. Bitcoin whales are accumulating amid the massive price correction.
The business intelligence software company, MicroStrategy is starting the year 2022 with a move to reinforce its investment strategy in Bitcoin 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. .
In the midst of a sustained bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” market, the company led by the Bitcoin Michael Saylor, has decided to spend $25 million to purchase more bitcoins . The CEO of MicroStrategy announced the most recent acquisition via a tweet on Tuesday.
MicroStrategy has added 660 bitcoins to its balance sheet, Saylor disclosed. The purchase was made at an average price of USD $37,865 per coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. and raises the total amount of Bitcoin of the firm to a total of 125,051 BTC currently valued at close refers to the closing price; similar to the same term used in stock trading. to US$5 billion.
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin . As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTR https://t.co/bF6VImC0Qy
— Michael Saylor⚡️ (@saylor)February 1, 2022
MicroStrategy is not losing its appetite for Bitcoin
The U.S.-listed company began running an aggressive crypto investment strategy two years ago. The purchase of large funds of Bitcoin has become routine for the company, which has added nearly 9,000 bitcoins to their holdings in the third quarter of 2021 alone, an average of 3,000 coins per month.
The strategy, which often takes advantage of market an area or arena, online or offline, in which commercial dealings are conducted. declines to buy more coins, has converted MicroStrategy into one of the largest institutional investors in Bitcoin . Saylor, an energetic advocate of the flagship cryptocurrency, has pointed out that the strategy is to leverage money that a trader borrows from a brokerage, enabling them to gain far greater exposure to a position than what their capital allows. a Bitcoin as a hedging asset against inflation a general increase in prices and fall in the purchasing value of money. 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. currencies such as the dollar.
So far, the bet of Bitcoin de MicroStrategy has paid off. According to the records provided by the firm, the totality of the bitcoins have been acquired at an average price of $30,200, for a total purchase value of $3.78 billion. Currently, the fortune represents a gain of more than USD $1 billion, with Bitcoin around USD $38,500.
The digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset market has experienced a significant price pullback since Bitcoin reached an all-time high near $70,000 in November. The major cryptocurrencies have plummeted, mostly posting double-digit percentage losses. However, this hasn’t dampened the appetite for MicroStrategy por Bitcoin .
In a recent interview, the CEO expressed confidence with the strategy and said he was not concerned about the recent price drop. Saylor also indicated that the company has no plans to sell its multibillion-dollar cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. hoard. “Never. No. We’re not salesmen.” he said, adding: “We’re just acquiring and holding Bitcoin. That’s our strategy.
Whales Accumulate Amid Falling Prices
It seems that MicroStrategy is not the only whale a term used to describe investors who have uncommonly large amounts of crypto, especially those with enough funds to manipulate the market. that is taking advantage of the falling prices to catch more Bitcoin . The company’s most recent acquisition comes as some of the world’s largest investors in Bitcoin The treasures, with treasures between 100 and 10,000 BTC, (also called whales), are in the process of accumulation.
The chain monitoring resource Whalemap the phenomenon of the widespread acquisition of Bitcoin ongoing, as reviewed by Cointelegraph . According to the group’s data, the whales now own 330,000 bitcoins purchased in cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. at prices ranging from USD $36,000 to USD $38,000 per unit.
“ Recent prices caused whales to hoard Bitcoin “the researchers summarized in a tweet Tuesday.
Accumulation activity appears to have elevated the supply of Bitcoin among whales (per wallet) at its peak. According to data from the analytics firm chain Glassnode quoted by the media, the metric is at its highest point in a decade.
Recent prices triggered whales to accumulate #Bitcoin .
Roughly 330,000 BTC now belongs to whales between $36k and $38k. pic.twitter.com/KX3m2KmrLC
— whalemap (@whale_map)February 1, 2022
- Buying the Drop: MicroStrategy Adds 1,914 Additional Bitcoins to its Balance Sheet
- MicroStrategy’s Bitcoins are worth more than the cash of many of the top companies in the S&P 500
- Whales buy Bitcoin amid the fall: USD $650 million in BTC flowed out of Coinbase is an American company that operates a cryptocurrency exchange platform.
Article by Hannah Estefania Perez / DiarioBitcoin
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