2020 was the year of cryptocurrencies. And it is that, after having spent almost its entire existence being a cult object for fans of cryptography and privacy. During 2020, cryptocurrencies, and especially Bitcoin, began to be accepted as world-class financial assets by traditional companies. Therefore, it is not surprising to learn that MicroStrategy continues to buy Bitcoin, as announced by its CEO, Michael Saylor, in the Tweet of the day:
MicroStrategy still trusts Bitcoin
Until very recently, the attitude of large traditional companies towards Bitcoin was one of mistrust. With most of them refusing to accept the value of Bitcoin as a financial asset. And flatly rejecting the possibility of acquiring the cryptocurrency.
All of this changed in 2020, when the increase in the price of BTC, added to the global economic problems, led large institutional investors to enter the crypto market. Buying millions of dollars in Bitcoin through GrayScale’s mutual funds.
And amid this Bitcoin boom thanks to large financial institutions, one company stood out above the rest due to its aggressive buying strategy. We refer to MicroStrategy, a company led by Michael Saylor, who bought millions of dollars in BTC during the year 2020. Making multimillion-dollar profits in the last major Bitcoin bull rally. Reason why they would have put millions of dollars back into BTC recently:
«MicroStrategy has purchased approximately 314 Bitcoins for $ 10 million in accordance with its Treasury Reserve Policy, at an average price of approximately $ 31,808 per Bitcoin. We now have approximately 70,784 Bitcoins».
In this way, MicroStrategy would demonstrate the confidence it has in Bitcoin. Buying more units of the cryptocurrency at a time when the price of it is stagnant near the support of $ 30,000. With expectations on the part of certain analysts that it will fall even more from there.