The world’s largest corporate bitcoin holder, MicroStrategy, just can’t get enough of BTC! They keep buying more and more, and making announcements on the first business day of the week. But here’s the kicker – every time they do, the price of BTC drops! 🤔
The latest purchase was worth over a billion USD, and allowed MicroStrategy to amass another 11,000 BTC. Their total stash is now 461,000 BTC, acquired for $29.3 billion at an average price of $63,610 per bitcoin. The paper value of their BTC fortune is close to $47.5 billion, according to prices at press time. 💰
But here’s the funny part – shortly after Michael Saylor, the CEO of MicroStrategy, made the announcement, BTC’s price headed straight south! The asset had climbed to over $105,000, but slumped by over two grand within minutes to under $103,000. 📉
It’s an intriguing and perhaps somewhat surprising development, given that MicroStrategy’s purchases should be regarded as bullish moves. But it seems that every time they make an announcement, BTC tends to lose value immediately after. 🤷♂️
In the most violent example from the end of 2024, the primary cryptocurrency dumped from over $94,000 to a monthly low at the time of $91,300. But don’t worry, BTC has managed to recover from the initial losses within days at most. 🚀
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2025-01-21 18:10