MicroStrategy buys 3,000 bitcoin

[SilverLance]

MicroStrategy, a software company, has purchased an additional 3,000 bitcoins for its corporate treasury, bringing its total holdings to approximately $10.3 billion. This shows a significant investment and belief in the potential of the cryptocurrency market.

 

[Suba]

Sourced from Michael Saylor's X account published on Feb26,2024 MicroStrategy purchased 3,000 BTC worth $155 at an average price of $51.8 per BTC. and currently they have 193k BTC. The price of Bitcoin has now reached above $57k, and BTC ownership will become increasingly centralized.

 

[SilverLance]

It'll be interesting to see how this concentration of BTC ownership plays out in the future, and what impact it may have on the overall market.

 

[magnus2022]

Sourced from Michael Saylor's X account published on Feb26,2024 MicroStrategy purchased 3,000 BTC worth $155 at an average price of $51.8 per BTC. and currently they have 193k BTC. The price of Bitcoin has now reached above $57k, and BTC ownership will become increasingly centralized.

I doubt if the company will be able to achieve such feat. Bitcoin is designed to be decentralized and it is difficult to manipulate the system. My logic is that the real value of bitcoin depends so much on mining. If there is no transactions, the value will start depreciating. That equally means that the more bitcoin you own, the cost of transactions will be cut a huge from your investment.

 

[Suba]

I doubt if the company will be able to achieve such feat. Bitcoin is designed to be decentralized and it is difficult to manipulate the system. My logic is that the real value of bitcoin depends so much on mining. If there is no transactions, the value will start depreciating. That equally means that the more bitcoin you own, the cost of transactions will be cut a huge from your investment.

Halving makes Bitcoin mining rewards decrease, while Bitcoin adoption by institutions will reduce Bitcoin circulation in the market, while even though demand remains, Bitcoin prices will increase, which is why it will be difficult for Bitcoin prices to fall below $60k.

 

[riberet19]

It seems that Microstrategy has set out to buy all the BTC that exists, they don't stop buying but they also don't stop talking about decentralization, and they have more and more power over the network in some way.

 

[King Belieal]

The way Micro Strategy has believed in Bitcoin would continue to make other corporate organisations to really look into bitcoin.