MicroStrategy, a maker of business intelligence software for digital companies announced that they would be expanding their Bitcoin (BTC) portfolio. The Nasdaq-listed company began offering analytics on cryptocurrencies this year with Litecoin and Etherium but has now added BTC to the list making it possible for traders everywhere to get unparalleled insight into how these currencies move based on certain metrics like market cap or price movements etc.
Michael Saylor, the CEO of MicroStrategy revealed that his company purchased an additional 1,914 Bitcoins for a total cash purchase price $94.2 million USD. The entire bitcoin market is valued at almost half-a-billion dollars right now but one man’s investment could make it worth much more!
The business intelligence firm has a nice little haul.The company is now sitting on 124,391 bitcoins which account for about 5% of all mined coins and makes them worth quite a bit more than the original offer!
The company has been buying up bitcoin at an average price of $30,159 per coin. This would mean they have spent close to $3 billion on cryptocurrency so far. MicroStrategy is a company that offers software to help companies make sense of their data. In 2021, they expanded their BTC portfolio significantly and now have more than ever before!
Saylor has called Bitcoin digital property. He mentioned that countries around the world will start accepting it due to its convenient infrastructure- something which makes this currency more appealing than ever before! What’s not to love about this? Bitcoin may be the future of finance, and it just got some serious backing from the industry insider. The CEO added that while he believes in both gold as well as cryptocurrency for investment purposes – BTC will ultimately prove superior because its supply cannot be controlled by any single person or group!
In a recent Tweet, Saylor says, “MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin. As of 12/29/21, we hold ~124,391 bitcoins acquired for ~$3.75 billion at an average price of ~$30,159 per bitcoin,”
With its market value jumping over 30% this year, MicroStrategy has seen a correction that is currently near record levels. The stock recently closed at $560 after reaching an all-time high of almost $1,300 in February—and it’s not surprising why traders are watching closely! We’ve seen this before with other companies when they experience an increase like this one does. But what makes them different from all others? The answer lies within how you can capitalize on these movements whether or not your investment will pay off later down the line!
Active Bitcoin Addresses
Bitcoin has skyrocketed in popularity over the past year, and we’re witnessing a major increase thanks to new users. The network saw record activity with thousand addresses interacting on a daily basis!
The future is looking bright for Bitcoin! In 2019, there were a reported 111 million transactions. This was an increase from 2018 when 93 million BTC addresses had activity during that same time period and 2021 has already beaten last year’s numbers by more than half with about 54% greater volume so far this calendar year.
Santiment notes, “It is highly encouraging to see Bitcoin’s address activity break new ground in 2021, and not just on a single-day basis. With its mean daily addresses at 989,000, or just short of 1 million addresses/day, this was also the strongest year to date for Bitcoin’s address activity. To put this in context, although 2019 wasn’t a bad year for crypto by all accounts, it hasn’t seen a single day where BTC surpassed 1M DAA. In 2021, one million was almost the mean.”