Microsteel keeps buying into BTC

[thayes09]

Microstrategy bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins. When they continuously buy Bitcoin in stages will it cause BTC to break ATH again? What do you expect for BTC at the end of 2021?

[Charles-Tim]

It is Microstrategy not Microsteel

When they continuously buy Bitcoin in stages will it cause BTC to break ATH again? What do you expect for BTC at the end of 2021?

Maybe $50000, who knows. Predicting bitcoin price may be inaccurate, but we should at long term expect all-time-high, all-time-high is achievable but it may not be this year.

[thecodebear]

At this point their buys are expected so I don't think the market reacts to it. Market reacts to new things, not expected things. The first few times Microstrategy bought it was huge, now it's just normal. A new public company buying a few hundred million $ in Bitcoin would move the market. Surprised it hasn't happened lately but it'll happen soon enough. Probably won't happen until Bitcoin shoots up again. Noobs, no matter if they are new investors or CEOs and executive boards of trillion dollar companies, only know how to buy high when they first get in.


I like the accidental name change to Microsteel though haha.
Saylor should rename Microstrategy to Gigastrategy, cuz their Bitcoin strategy is blowing the rest of the corporate world away.

[passwordnow]

Well, that's funny when I've read the company's name although it's understandable what's with the news recently. I just remembered that name of my past employer that's close to that name but OP change the name of the company as corrected by Charles.

When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?

Not that really but if they keep on doing that, they might influence a lot of people and big companies to do the same thing as what they do. They're leaving a question to those speculators that there seems to be something they know that others don't know and make them keep on buying.

What do you expect for BTC at the end of 2021?

Still bullish even if there will be upcoming and expected corrections.

[GreatArkansas]

For those who don't have knowledge, this is legit, Microstrategy purchased additional Bitcoin as Michal Saylor (CEO of Microstrategy) tweeted about it, can be found here: https://twitter.com/michael_saylor/status/1437386724443926535

What do you expect for BTC at the end of 2021?

Still bullish even if there will be upcoming and expected corrections.

For me, this time, breaking the $50,000 again will result in a new all-time-high, we are extremely near to the all-time-high for Bitcoin, with Bitcoin supply on exchanges keeps decreasing, I believe this is a good indicator that we will see more upside prices.

[tranthidung]

Willy Woo updated his chart for Bitcoin held by public entities.

Some websites to check bitcoin treasuries.

• Buybitcoinworldwide.com (this website recently was not updated regularly. I don't know how its update is working now)
• Bitcointreasuries.net.
  
  • The team announced that they sold the Bitcointreasuries.org domain - that connects to Buybitcoinworldwide.com.
  • Announcement
• bybt.com
• Bitcoin Treasuries (by @fillippone). It is a good follow-up topic about Bitcoin treasuries.

[yazher]

Microsteel bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins. When they continuously buy Bitcoin in stages will it cause BTC to break ATH again? What do you expect for BTC at the end of 2021?

Everyone in the crypto industry has their own way to invest and make a profit in the investment in bitcoin and I think they are one of those companies who will take the risk and hodl their bitcoins for another 10-20 years. I think they've been doing that since the price of BTC was low and they might sell some of their BTC whenever the price spike and buy when it goes down. It's just my mere speculation but whatever the reason is, they are helping the market right now.

[FinneysTrueVision]

I don't have any idea what Microstrategy does and I often get their name confused with Microsoft, Micro Center, and other similarly named companies.

5050 is a lot of BTC. They bought it over a period of several weeks and their volume is still a small amount of Bitcoin's trading volume so we might not see an immediate impact. When they buy so much BTC it will create scarcity and over time I do think it will help the price reach an all time high.

[mk4]

In 10 years time, Michael Saylor is going to end up being either a giga-brain genius, or a straight-up laughing stock. I don't think there's any in-betweens lol; he's just balls deep into bitcoin. MSTR literally owns 0.54% of the total bitcoin supply now.

[joniboini]

Keep in mind that some orders probably happens through OTC, so even if they buy a lot of coins, the price might not change. I doubt they will dump it directly on the public market too since it might reduce the profits. Just like the last dump, it happens due to various short orders get triggered, not entirely because some whales are dumping their stash. CMIIW.

[Dave1]

Lol, it seems that the OP intentionally call them that name because that's what they do, steal bitcoin from those newbies or those who decided to sell it right now. As for the effect, they have been in crypto space now, they have bought a lot so possible that other big companies and whales could be tempted to do what Microstrategy is doing, accumulating bitcoin and buyin the f**ing dip.

[SFR10]

When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?

In theory, it should have a positive impact on the price but not to an extent that it'd break ATH ^{[we need a chain reaction of some sort to achieve such a thing again]}...
^{- I do agree with @thecodebear's comment.}

What do you expect for BTC at the end of 2021?

I posted the following "prediction" back in June.

For those who don't have knowledge, this is legit, Microstrategy purchased additional Bitcoin as Michal Saylor (CEO of Microstrategy) tweeted about it, can be found here: https://twitter.com/michael_saylor/status/1437386724443926535

I downloaded the "PDF file" from their websites and it seems that they're selling shares in order to buy BTCitcoins ^[screenshot]. Although I don't know every single detail, it still appears to be quite risky!

[NeuroticFish]

Although I don't know every single detail, it still appears to be quite risky!

For a company to do what Microstrategy does, they have to have quite high appetite for taking risk. And until now it did pay off.

Microsteel

Is this a mix between MicroStrategy and "balls of steel"?

[TheUltraElite]

Microsteel bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins.

Scary what they can do with all that money isnt it? How much did you manage to squeeze from your wallet and buy?

When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?

If someone buys, someone dumps too. That is how the cycle is maintained. If ATH is broken, people will dump and exit and therefore a correction will happen. It can reach ATH but, IMO will also drop. Unless someone else also wants to keep buying.

What do you expect for BTC at the end of 2021?

I do not expect anything for bitcoin. Having expectations only effects how you trade. Rather look into the things happening and if they are bullish buy now and sell when it rises. We still have three months remaining and the Winter is unpredictable for the market. So better keep both fiat and BTC ready.

[Ararbermas]

Microstrategy bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins. When they continuously buy Bitcoin in stages will it cause BTC to break ATH again? What do you expect for BTC at the end of 2021?

yeah it will but no one knows what will be the next value of it since it's very unpredictable due to the volatility and attitude of some whales in the market , wherein it depends on the circumstances probably.
By the way it's not surprising that many companies and investors trying to fill more their bags with bitcoin especially when the prices is going down because that's how they can become profitable, indeed those big companies is the main reason why bitcoin always going up after the hard fall because of their big contribution on it, so don't be surprise as well how bitcoin can break new all time high in the future. 60k isn't enough mate, just keep holding if you own bitcoin..  

[zanezane]

Lol, it seems that the OP intentionally call them that name because that's what they do, steal bitcoin from those newbies or those who decided to sell it right now. As for the effect, they have been in crypto space now, they have bought a lot so possible that other big companies and whales could be tempted to do what Microstrategy is doing, accumulating bitcoin and buyin the f**ing dip.

Well, OP used the word "steel" not "steal" so I don't think that it's the right hypothesis, also how can they be stealing those bitcoins though, those newbies decided to sell their bitcoins and they weren't coerced by the company so why put the blame on the company?

[Imran232]

Well, that's not much of a surprise because microstrategy always supports bitcoin. They are supporting bitcoin very positively. That is why they are holding $5k+ bitcoin. And they always share it. That is why when they tweet about it, the bitcoin price doesn't change too much. Now there are some companies who didn't share anything about bitcoin. If they tweeted about bitcoin, then the bitcoin price might pump aggressively. What happened the previous day with Litecoin? A fake news spread from a Litecoin account, but that tweet gave a huge pump to Litecoin. If the real news hadn't come then yesterday, Litecoin would have broken its ath. I believe that, so I think bitcoin now needs some more big companies. Microstrategy is now a house for btc.

[GuyFromBarcelona]

Microsteel bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins.

Scary what they can do with all that money isnt it? How much did you manage to squeeze from your wallet and buy?

When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?

If someone buys, someone dumps too. That is how the cycle is maintained. If ATH is broken, people will dump and exit and therefore a correction will happen. It can reach ATH but, IMO will also drop. Unless someone else also wants to keep buying.

What do you expect for BTC at the end of 2021?

I do not expect anything for bitcoin. Having expectations only effects how you trade. Rather look into the things happening and if they are bullish buy now and sell when it rises. We still have three months remaining and the Winter is unpredictable for the market. So better keep both fiat and BTC ready.

Apparently the current daily bitcoin trading volume is about 800k btc so theoretically if they sell their 100k btc within a couple of weeks for example, it shouldn't be noticeable.

But who knows

[yhiaali3]

On the contrary, Microstrategy buying large quantities of bitcoin does not lead to a break in the price of bitcoin, but rather is an indication of expectations of a rise in bitcoin again. Large companies do not venture to buy large quantities of bitcoin unless they have very strong analyzes and indicators of a rise in prices again, so I see that Microstrategy's continued purchase of additional amounts of Bitcoin has very strong indications that we will witness new Bitcoin peaks soon.

[Fundamentals Of]

Microstrategy will help Bitcoin break another ATH in the near future not just by buying but by continuously hodling what they currently have. What Microstrategy has is a big amount of Bitcoin. Perhaps they will still continue to buy the dip in the future. But they cannot push Bitcoin to another ATH alone. There has to be a reason, or a bullish news, or a strong buying sentiment, etc to really push Bitcoin to another ATH. Microstrategy is just one fish in the ocean.