According to Odaily, MicroStrategy has made an additional purchase of 11,931 Bitcoins, valued at approximately $786 million. As of June 20, 2024, MicroStrategy's Bitcoin holdings have reached a total of 226,331 Bitcoins. The average price per Bitcoin in their possession is $36,798, bringing the total value of their Bitcoin holdings to approximately $8.33 billion. This move is part of MicroStrategy's ongoing investment in the digital currency, demonstrating their confidence in Bitcoin as a valuable asset.

Breaking Microstratgy Acquired 1045 BTC

On Wednesday, business intelligence firm MicroStrategy announced that it had bought an additional 1,045 Bitcoins for a total purchase price of roughly $29.3 million.

According to a recent filing with the United States Securities and Exchange Commission (SEC), the new acquisition was made between March 24 and April 4 at an average price of $28,016 per coin.

This most recent haul brings the company's Bitcoin vault to an astounding 140,000 coins.

Those coins were acquired at an aggregate purchase price of approximately $4.17 billion. The company's average purchase price now stands at $29,803 per Bitcoin.

The bellwether cryptocurrency is currently trading at $28,564 on the Bitstamp exchange, which means that MicroStrategy is yet to break even after facing massive losses in 2022 due to the bear market.

As reported by U.Today, the company also announced a $150 million Bitcoin purchase in late March.

MicroStrategy has been a key player in the corporate adoption of the flagship cryptocurrency, with its initial investment in the cryptocurrency in August 2020.

Since then, the company has continued to expand its Bitcoin holdings, making it the largest corporate holder of digital assets.

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CoinShares report highlighted that the week ending March 24 noted the highest inflows since July 2022.

MicroStrategy holds over $4 billion worth of Bitcoin after adding 6,455 BTC since last month.

Bitcoin price is trading at $26,923, struggling to breach $28,500 for nearly two weeks now.

Bitcoin has been noting increasing institutional interest for the last few days as whale movement on the network grew. At the same time, another major bitcoin holder MicroStrategy also dove back into accumulating BTC suggesting that the cryptocurrency could be taking a bullish turn.

MicroStrategy is back to acquiring Bitcoin

In a regulatory filing on March 27, Michael Saylor’s company announced that MicroStrategy had acquired about 6,455 BTC for $150 million over the last two months. The average price of each Bitcoin stood at around $23,238, bringing the total BTC holdings of the firm to 138,955.

This is the first purchase announced by MicroStrategy this year, as the last purchase was noted in December 2022, when the company had added about 2,500 BTC. Valued at $4.14 billion, the average price of each Bitcoin held by Saylor’s organization is close to $29,817. The current price of the biggest cryptocurrency in the world is around $26,780, which shows that Microstrategy’s investment is still at a loss.

Bitcoin price needs to be at a nine-month high and breach the critical support at $28,567 for the company to break even on its investment. However, BTC is treading in the opposite direction at the time of writing, trading at $26,923, falling by nearly 4%. Struggling to breach the critical resistance at $28,567 for about 14 days now, Bitcoin would need a push from investors to climb back to $30,000.

If the price falls further and loses the support at $24,943, it would be on the path to testing the critical support at $22,219. Falling through it would invalidate the bullish thesis, potentially sending Bitcoin price to $20,000, marking a 20% crash.

Rising institutional interest could save Bitcoin from crashing

MicroStrategy’s move is one of the first few indications that institutions might be back  investing in the crypto market and Bitcoin again. The CoinShares report highlighted that the weekly crypto asset flow for the week ending March 24 hit an eight-month high of $160 million.

Of this $160 million, $127.5 million was directed towards Bitcoin. Although considering the year-to-date flows, the asset is still noting a macro outflow of $104 million but rising institutional interest could flip that over the next few weeks.

This changing interest was also observed a few days ago in the form of whale movement as big wallet holders’ activity became much more significant. As observed on-chain, the transactions worth more than $100,000, denoted to be whale activity, shot up to a 15-week high.

Acquisitions by large wallet holders are generally a signal that the cohort is expecting a price rise going forward, which usually plays out in their favor.

Thus Bitcoin investors looking to go long should look out for the opportunity to jump in should the pattern repeat this time around as well.

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In 2020, when the world was grappling with the pandemic-induced economic downturn, MicroStrategy, a leading business intelligence and analytics company, made a bold move. The company invested $250 million in Bitcoin, a digital currency that has been the subject of much debate and speculation. MicroStrategy’s CEO, Michael Saylor, saw Bitcoin as a hedge against inflation and currency devaluation and a store of value. Since then, MicroStrategy has continued to invest in Bitcoin, purchasing over $2 billion worth of digital currency, which represents a significant portion of its overall value. In this article, we will explore what Bitcoin MicroStrategy is, how this strategy works, the benefits of MicroStrategy for the crypto market, whether it will become a source of a bullish trend for the crypto market, and the motives behind making this strategy, and whether people are happy with it.

What is Bitcoin MicroStrategy?

MicroStrategy’s Bitcoin strategy involves using its balance sheet to purchase Bitcoin as a reserve asset. The company’s primary business is providing business intelligence and analytics software and services to companies. However, in 2020, the company began to invest in Bitcoin as a way to diversify its balance sheet and protect against inflation and currency devaluation. MicroStrategy’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin, calling it "digital gold." He believes that Bitcoin can act as a hedge against inflation and currency devaluation and as a store of value.

How does this strategy work?

MicroStrategy has purchased Bitcoin through its subsidiary, MicroStrategy Services Corporation. The company’s Bitcoin holdings are stored in a digital wallet secured by a private key. MicroStrategy has also issued debt to finance its Bitcoin purchases. In December 2020, the company raised $650 million through a bond offering, which it used to purchase more Bitcoin. The company’s Bitcoin holdings are now worth over $5 billion, and its investment has proved to be a successful one so far.

What are the Benefits of MicroStrategy for the Crypto Market?

MicroStrategy’s investment in Bitcoin has brought attention to digital currency and its potential as an investment and store of value. It has also shown that a publicly traded company can hold Bitcoin as a reserve asset, which could lead to more companies following suit. This could increase demand for Bitcoin and drive up its price. Additionally, MicroStrategy’s investment in Bitcoin has been seen as a validation of the digital currency by some investors and analysts, which could lead to increased adoption and use of Bitcoin.

Will it become a source of a bullish trend for the crypto market?

MicroStrategy’s investment in Bitcoin has been viewed as a potential catalyst for a bullish trend in the crypto market. However, it is important to note that Bitcoin is a highly volatile asset, and its price can fluctuate significantly in a short period. MicroStrategy’s investment in Bitcoin may drive up its price temporarily, but it is not a guarantee of a sustained bullish trend in the crypto market.

What is the motive behind making this strategy?

The motives behind MicroStrategy’s Bitcoin strategy are to diversify its balance sheet, protect against inflation and currency devaluation, and invest in a potentially valuable asset that can appreciate over time. MicroStrategy’s CEO, Michael Saylor, has been a vocal proponent of Bitcoin and believes it can act as a hedge against inflation and currency devaluation. Additionally, MicroStrategy’s investment in Bitcoin has garnered significant attention and interest from investors and analysts, potentially leading to increased value and attention for the company.

Are Crypto Investors happy with this strategy?

The response to MicroStrategy’s Bitcoin strategy has been mixed. Some investors and analysts have praised the company for its bold move and for being ahead of the curve in recognizing the potential of Bitcoin as an investment and store of value. However, others have criticized the strategy as risky and irresponsible, citing the volatility of Bitcoin and the potential for significant losses. Additionally, some investors have questioned whether MicroStrategy should be using its balance sheet to invest in Bitcoin rather than focusing on its core business.

Despite the mixed response, MicroStrategy’s Bitcoin strategy has been successful so far. The company’s Bitcoin holdings have appreciated significantly in value, and its investment has helped to increase awareness and adoption of Bitcoin.

Positive and Negative Turns of Microstrategy

MicroStrategy’s Bitcoin strategy may also have implications for the broader economy. As more companies and individuals invest in Bitcoin, it could lead to a shift away from traditional financial institutions and central banks. Additionally, the increasing use of Bitcoin and other cryptocurrencies may lead to regulatory and legal challenges, as governments seek to ensure the stability and security of their financial systems.

MicroStrategy’s Bitcoin strategy is a bold move that has captured the attention of investors and analysts alike. While it may be seen as a risky bet by some, it has proven to be a successful investment so far, and it has helped to increase awareness and adoption of Bitcoin. Whether MicroStrategy’s Bitcoin strategy will become a source of a bullish trend for the crypto market remains to be seen, but it has certainly sparked interest and discussion about the potential of cryptocurrencies as a store of value and investment.

As more companies and investors become interested in Bitcoin and other cryptocurrencies, MicroStrategy’s Bitcoin strategy may be seen as a trailblazing move. It has shown that a publicly traded company can hold Bitcoin as a reserve asset and that there is potential for significant value appreciation. However, it is important to note that investing in Bitcoin comes with significant risks, and investors should carefully consider their investment goals and risk tolerance before investing.

MicroStrategy’s Bitcoin strategy may also have implications for the broader economy. As more companies and individuals invest in Bitcoin, it could lead to a shift away from traditional financial institutions and central banks. Additionally, the increasing use of Bitcoin and other cryptocurrencies may lead to regulatory and legal challenges, as governments seek to ensure the stability and security of their financial systems.

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