Microsteel keeps buying into BTC

[TheUltraElite]

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.

I am more of the opinion that big institutions only give out news of when they are buying but only after that and they do not give out the news of when they are selling unless they have a reason to. They are more likely to sell of in portions slowly as the market rises after the news hits. They are in it for the profit and they know how to make it. Older bitcoin traders who have been watching the market have already figured this out.

Of course as long as the desired profit is crossed they will continue to FOMO the newbies into buying more and then wait for the crash to happen once again.

Celebs do the same thing too, just that some celebs have a big mouth. I am sure you have understood the pattern by now.

[pooya87]

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.

There is another possibility too. A third option where the same thing that has been happening to anything centralized that also advertises their "wealth" happens, getting hacked. We've seen huge hacks in the past of companies (usually exchanges) that claim to have cold storage and top security and the hacker takes all...

[Poker Player]

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.

There is another possibility too. A third option where the same thing that has been happening to anything centralized that also advertises their "wealth" happens, getting hacked. We've seen huge hacks in the past of companies (usually exchanges) that claim to have cold storage and top security and the hacker takes all...

Lol. Really?

I don't remember of any case but you have been in the Bitcoin world much longer than I have. Saylor is not a hair of a fool, which is not to say that smart people can't do stupid things.

With how much he has studied Bitcoin, which he demonstrates when he speaks, I would be very surprised if he didn't have his holdings spread over several multi-sig wallets and with the seeds hidden in several secure places.

[hisslyness]

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.

There is another possibility too. A third option where the same thing that has been happening to anything centralized that also advertises their "wealth" happens, getting hacked. We've seen huge hacks in the past of companies (usually exchanges) that claim to have cold storage and top security and the hacker takes all...

Lol. Really?

I don't remember of any case but you have been in the Bitcoin world much longer than I have. Saylor is not a hair of a fool, which is not to say that smart people can't do stupid things.

With how much he has studied Bitcoin, which he demonstrates when he speaks, I would be very surprised if he didn't have his holdings spread over several multi-sig wallets and with the seeds hidden in several secure places.

There's a DAO hack before which hacker stole $60 Million of Ether last 2016 and  Ethereum Parity worth $280 Million. This 2 incident is the biggest succesful hack happened on Ethereum due to code vulnerabity. I don't know if this is possible for microstrategy since we don't know what is the security they are using but there's always a possibility since this is crypto and a lots of inside job hapened before.


Sources:
https://www.gemini.com/cryptopedia/the-dao-hack-makerdao#section-what-is-a-dao
https://securityaffairs.co/wordpress/65413/hacking/ethereum-parity-wallet-hack.html

Why would you bring that to the conversation. It like saying my money is not safe under my bed, because an ATM was smashed into and cash was stolen.

I don't recall Michael Saylor hodling any ETH?...

[passwordnow]

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.

We will see and we don't know for sure. But for the moment that it's been on $45k and up, we're already assured and happy to see it staying there.
And when it pursues and goes higher, that's more than enough from the past that we've seen its price dropped a lot. This is very much acceptable for those who have been holding since 2020 and earlier than that year.

[TheGreatPython]

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?

All time high price is achievable but it doesn’t happen as constantly as people wants it to.I have notice that every time something happens in this space, people are always talking about all time high price and whether the market will be bullish. But, it doesn’t work like that. We have already experienced a bull run from last year ending to earlier this year, so why are people still talking about bull run and all time high price?

Of course, it will happen again but it’s not going to be anytime soon, I don’t even think it is something that is going to happen this year again. But the price is still going to maybe get over $50,000 or $60,000, Which is good if you ask me.

[eaLiTy]

~
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.

The price is around those ranges, so hitting $50000 is not a huge deal as it can happen in a single hour if the bulls are back in action. The other aspect is that i am expecting a major correction by next year which could take the market down well below $30000.

If we are to expect the bulls to cross another all time high then this is the best time to breach those valuations and most probably by the end of this year and once the bear market starts to hang over our head it would take another 3 years to reach any newer levels.

My major concern is how these institutional investors makes their plans as they are holding huge number of coins and when they will be dumping those coins in the market.

[Kong Hey Pakboy]

They have been a long time supporter of bitcoin so it's understandable why they keep on buying, they believe and are banking on the potential of bitcoin to go up exponentially in the future and they have the means to buy a lot of bitcoin so why pass up on the opportunity right?

[cafucafucafu]

I think that it is a completely rational strategy.

They can diversify a lot of the risk away from their position just buy dollar cost averaging, which is why they are accumulating so much.

I do think that their bet is going to pay off big time over the long run - they're holding these coins for who knows how long, and are effectively reducing the supply of coins as well.

[justdimin]

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?

I do believe that security that these companies have for their coins is huge. However I also believe that they have insurance for these type of things as well, meaning even if somehow they get their things stolen then they will be paid that much amount as well. Which could be even good for crypto, how?

Well, let's assume that they do get hacked and all of their coins get stolen, that means insurance will pay them that much and they will likely to use that to buy some more, which is awesome and I like that and it will increase the price of it, on the other hand the stolen coins would be a hard time to spend or sell as well which means it will not be dropping the price too much, or even if it ever did then it won't be all at once. So, this company getting hacked and all that money stolen could mean an increase in the price of bitcoin in the long run.

[Kittygalore]

I think that it is a completely rational strategy.

They can diversify a lot of the risk away from their position just buy dollar cost averaging, which is why they are accumulating so much.

I do think that their bet is going to pay off big time over the long run - they're holding these coins for who knows how long, and are effectively reducing the supply of coins as well.

Not just diversification but also prospects, I mean look at how them profiting from those bitcoins that they've bought back when bitcoin was still not this big, they were making profit at that time too so why wouldn't they get this opportunity?

[Twinkledoe]

I think that it is a completely rational strategy.

They can diversify a lot of the risk away from their position just buy dollar cost averaging, which is why they are accumulating so much.

I do think that their bet is going to pay off big time over the long run - they're holding these coins for who knows how long, and are effectively reducing the supply of coins as well.

Since they are continuously accumulating bitcoin, it means, they have strong belief that bitcoin will have bright future. Because if they don't believe its potential, they won't accumulate more. It shows that this company is trusting their funds on btc investments. I guess, some companies are also doing the same strategy but not disclosing to the public.

[Spack17]

This kind of news can be seen as FUDs also I think. The companies which continue to buy Bitcoin can't have a direct effect on the price for some time. And this is actually better that it prevents Bitcoin from being manipulated very easily in this way. But it is still a good thing that these companies are doing. They are helping the adoption rate increase as it incentivizes people to buy also.

[Hippocrypto]

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?

This a great expectations that waits a good outcome, and exactly I've seen a futuristic advantage that Bitcoin has. If possible ATH breaks again $60k would be the best predictions this year before we go beyond than that. Once these great companies ventures on digital currency, for sure others will do.

[Quidat]

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?

Indicates that there are companies which do really trust up Bitcoin which is really a plus or add up into the adoption and would be some catalyst for other companies in doing the same thing.
Just let them be if they decide to accumulate because they do saw the opportunity that it could give in future years to come but somehow risk would be always there.
Adoption is still on the move and time will tell on how far we would able to reach out.

[Bollexz1]

If people like Micheal Saylor co-founder (Microstrategy) could insist on buying Bitcoin, that is sensing  to you how big and huge potential the inventory is. Bitcoin indeed remain one of the biggest project ever invented.

[Kyraishi]

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?

I think that it's certainly going to reduce supply for BTC but also at the same time offer a consistent stream of demand.

The reason why they are doing this is that they are not concerned about the price of BTC - they are just dollar cost averaging into BTC instead of trying to time the market, which is a really good idea given that BTC is such a volatile asset.

Personally, I don't think that Microstrategy is a great investment vehicle given their company structure, but their investment philosphy is admirable.

[ivankoh]

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?

I wish bitcoin could break $100k this year.  But given the fact that I expect it to generate new ATh at $72k, most of the basis on which I predict bitcoin will rise is when Taproot is activated to make bitcoin perfect, All of them  I'm both a huge supporter of bitcoin privacy.  That's the core thing.  For now, accumulation is still the main trend from large institutional investors.

[sikke]

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?

They're probably just executing a Dollar-Cost-Average strategy.

But yeah, this is nothing new. Microstrategy and other institutional investors have been consistently investing in BTC for a while now.

And it's good, it keeps the volatility down quite substantially and also means that their position can ride out a bunch of price fluctuations and take advantage of price at any stage.

[davis196]

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.

I don't have any respect for this guy at all,even though he is a total 1000% Bitcoin bull.
There's something wrong about him and his Microstrategy fund.Investment funds usually are focused on managing the risks and diversifying the assets in their portfolio.
Microstrategy is all about "buy more Bitcoin and forget about anything else".
I guess that they want to attract all the investors,who want a high risk/high reward ratio.
So far he is doing great,but I don't think that Saylor has any plan B,when the shit hits the fan...