MicroStrategy Incorporated purchased 21,454 BTC worth over $250 million dollars. MicroStrategy Incorporated announced they were planning the move as part of their capital allocation strategy, in their Q2 2020 financial results.
MicroStrategy Incorporated is a Nasdaq listed company that provides business intelligence, mobile software and cloud based services. MicroStrategy (NASDAQ:MSTR) was founded by Michael Saylor and Sanju Bansai in 1989.
This came to my attention through a short post by Crytoentrepreneur entitled:
This piece of news provides the perfect follow-on to my 2 previous posts:
MicroStrategy Press Release
On August 11 MicroStrategy Incorporated issued a press release entitled:
Michael Saylor, CEO of MicroStrategy Incorporated said
Our investment in Bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders. This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash. Since its inception over a decade ago, Bitcoin has emerged as a significant addition to the global financial system, with characteristics that are useful to both individuals and institutions. MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.
The Big Boys Are Making Their Move
- Galaxy Digital place full page ad in the Financial Times
- Grayscale screens "History of Money" on National TV
- MicroStrategy Incorporated invest nearly 25% of their worth in Bitcoin
- Marathon buys 10,500 Next-Gen Bitcoin Miners
- digital asset management firm CoinShares recommends investors allocate 4% of their portfolios to bitcoin
What Does Bitcoin Think of All This Attention?
Compliments of Coingecko.
This is the 30 day chart showing a gradual crawl from $13,048.49 AUD to the 2020 ATH of $17,144.53 AUD today.
Is The Stacking Sats Era Coming To An End?
I think it was about December 2018, when things hit the bottom. This is one of my favourite Warren Buffet quotes:
Be fearful when others are greedy and greedy when others are fearful
It has been a hectic but funn 18 months, stacking those sats. Unfortunately the time for stacking Sats is quickly coming to a close my friends.
- Bitcoin faucets will become obsolete as the market value of Bitcoin rises, they will reach a point where they can't give out less than 1 sat
- Brave Browser will lose some it's appeal as Brave Rewards get less and less as BAT 🚀🚀🚀🚀🚀🚀
- sadly it will be time to move on from Publish0x, as the tips keep diminishing as their fait value increases
How long have we common folk got left before it becomes a rich mans game?
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