Bitcoin News
By Pankaj K
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Current Holdings Worth Billions. Those 761,000 bitcoins aren't pocket change. At current prices, we're talking billions in value…
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Market Watches Every Move. Wall Street pays attention when MicroStrategy talks bitcoin.
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Michael Saylor wants more bitcoin. The MicroStrategy boss just said he's planning another purchase to add to the company's massive 761,000 BTC stash.
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MicroStrategy sits on one of the biggest corporate bitcoin hoards in the world right now. The software company has been buying aggressively since August 2020, when it first…
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Those 761,000 bitcoins aren't pocket change. At current prices, we're talking billions in value sitting on MicroStrategy's balance sheet.
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But it's been a wild ride. Bitcoin swung from $20,000 to over $60,000 just in the past year.
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He keeps comparing bitcoin to digital gold, saying more institutions will adopt it as a reserve asset.
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Wall Street pays attention when MicroStrategy talks bitcoin. The company's previous announcements have moved markets before.
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MicroStrategy stock basically trades like a bitcoin proxy now. When crypto goes up, MSTR goes up. When bitcoin tanks, so does the stock price.
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Other companies have followed suit, but nobody's gone as hard as Saylor. Tesla bought some bitcoin, Square did too, but MicroStrategy is in a league of its own.
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Some critics think it's reckless. They point to bitcoin's notorious price swings and wonder what happens to MicroStrategy if crypto crashes hard.
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Saylor brushes off the criticism. He's said he'll keep buying bitcoin "forever" and that selling isn't even on his radar. The man is all-in, and he's not backing down anytime soon.
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The timing of this latest purchase hint is interesting. Bitcoin has been consolidating after its recent run-up, and some traders think we might see another leg higher.
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Details are scarce though. MicroStrategy hasn't said how much they plan to buy or when. The company tends to be pretty secretive about timing, probably to avoid moving the market…
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What's clear is that Saylor's bitcoin strategy has become central to MicroStrategy's identity.
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