Faisal2202 (OP)
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September 25, 2023, 01:01:13 PM |
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Michael Saylor bought around 5,445 more BTC. At an average price tag of $27,053 per Bitcoin and the total investment is around $147.3 million. Which is a big milestone in the adoption of BTC. We all know the adoption of BTC is increasing day by day. This is a good news. Now the total holdings of MicroStrategy is around 158,245 BTC which is worth around $4.68 billion, bought at an average price tag of $29,582 per Bitcoin. This also shows that DCA is better for long-term investments. But we have also observed a pattern in which MS sell their some funds in the last month of the year to save themselves from tax. The amount is not that much, but still, if it will be used for holding purposes then the demand will increase oversupply. Simple as that. How many of you found it a good news? https://bitcoinmagazine.com/business/michael-saylors-microstrategy-buys-5445-bitcoin-147-3-million
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Broadanbig
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September 25, 2023, 01:12:37 PM |
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It is a good news as to how fast this would also steer other organisations to adopt Bitcoin and also making it a payment option to their businesses. So far, this is the only organisation I have heard and seen online that are fully into supporting the Bitcoin evolution. Their purchase of Bitcoin is someworth having a positive impart on the other businesses leading them to follow up step of micro strategy as they are doing. I can boldly tell that this step taken by them would definitely yield positive results in the nearest future and I must say this that come bull run next year, they are aiming for a huge amount of profit as a return for their consistency in the investment on Bitcoin.
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snowpega
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September 25, 2023, 01:25:44 PM |
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Michael Saylor bought around 5,445 more BTC. At an average price tag of $27,053 per Bitcoin and the total investment is around $147.3 million. Which is a big milestone in the adoption of BTC. We all know the adoption of BTC is increasing day by day. This is a good news. Now the total holdings of MicroStrategy is around 158,245 BTC which is worth around $4.68 billion, bought at an average price tag of $29,582 per Bitcoin. This also shows that DCA is better for long-term investments. But we have also observed a pattern in which MS sell their some funds in the last month of the year to save themselves from tax. The amount is not that much, but still, if it will be used for holding purposes then the demand will increase oversupply. Simple as that. How many of you found it a good news? https://bitcoinmagazine.com/business/michael-saylors-microstrategy-buys-5445-bitcoin-147-3-millionBuddy i would say its a big news in postive way when any millioner come on social media and admit the statement they have invested thier big amount into BTC this thing bring trust in other people. Which makes BTC more adoptable and trustable. By seeing these kind of news somehow other organizations also approach to invest thier funds in BTC. These things makes hight demand of btc which also cause increase in price. This news also relates to bull run for next year because when any know millioner or billioner personalities admit these kind of statement officially that makes positive cahnges in market.
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Beerwizzard
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September 25, 2023, 01:53:59 PM |
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Just reminding that these news should not be considered as a buying signal. Historically, BTC pretty often is going lower soon after massive Microstrategy purchase. It have pretty much no impact on the price in the momentum and only indicates that one of the major whales is becoming bigger.
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mvdheuvel1983
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September 25, 2023, 01:58:01 PM |
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Is this good for Bitcoin? Let's forget for a moment the positive impacts on bitcoins whenever Microstrategy buys Bitcoin and think for a moment to think overall for the community if this is bad for one entity to hold so much Bitcoin. I looked through the company's profile and found out that their shareholders are mostly big investment companies. Well for worth is worth, their stock price would keep increasing that way, they can get more money to buy more Bitcoins.
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legendbtc
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September 25, 2023, 02:00:34 PM |
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Just reminding that these news should not be considered as a buying signal. Historically, BTC pretty often is going lower soon after massive Microstrategy purchase. It have pretty much no impact on the price in the momentum and only indicates that one of the major whales is becoming bigger.
Admittedly, it is a coincidence that every time Microstrategy announces the purchase of more bitcoin, the market will continue to decline over the next few days. Their buying of bitcoin has become familiar to us and I think no one will see this as a good sign to buy in. But I also don't consider this a good sign every time large institutions buy the majority of bitcoin, this will boost the popularity of bitcoin but this will make bitcoin increasingly concentrated among the wealthy. The fact that large institutions buy and accumulate the majority of bitcoin is both beneficial and harmful.
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tbct_mt2
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September 25, 2023, 02:01:17 PM |
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Michael Saylor bought around 5,445 more BTC.
The amount is not that much, but still, if it will be used for holding purposes then the demand will increase oversupply. Simple as that. How many of you found it a good news?
Micro Strategy won't buy Bitcoin forever, they will sell it to take profit or just to take part of their investment capital back when they need cash for their business. More details of Micro Strategy investment history in Bitcoin. They got more new capital from investors and they used part of those new capital to buy bitcoin. If their new capital flow is broken, they will stop or reduce their intensity of Bitcoin buying and they will sell in either of possible scenarios aforementioned, taking profit or needing cash.
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Poker Player
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September 25, 2023, 02:03:33 PM |
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Michael Saylor bought around 5,445 more BTC. At an average price tag of $27,053 per Bitcoin and the total investment is around $147.3 million. Which is a big milestone in the adoption of BTC. We all know the adoption of BTC is increasing day by day.
I don't quite see the conclusion you're drawing, it's neither a big milestone in what MSTR is doing which has been doing DCA Bitcoin for a while now nor do I see that supposedly helping adoption. When we talk about adoption we talk about more and more people using Bitcoin and this is the same billionaire buying Bitcoin through his company as he usually does. Just reminding that these news should not be considered as a buying signal. Historically, BTC pretty often is going lower soon after massive Microstrategy purchase.
If you saw that the price pretty often went down after I farted, would you also say that me farting is not a buying signal? I'll put it another way: past correlations are of little use in guessing the future and if they are of any use at all it is because the sample is large and there is more to support the hypothesis than a certain regularity in the sample.
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lombok
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September 25, 2023, 02:13:57 PM |
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Honestly, I don't really understand the correlation between BTC price and Microstrategy buying BTC. Many people say everywhere that if MSTR buys BTC it means there will be a price drop in BTC. But let's draw a straight line properly. Isn't this great news, a large institution is buying and Hodl BTC. As long as these institutions/companies buy and hodl, it means that BTC is increasingly popular as an investment which will have the impact of increasing prices in the long term. Plus BTC has limited stock and will also face the halving?
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September 25, 2023, 02:29:12 PM |
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Honestly, I don't really understand the correlation between BTC price and Microstrategy buying BTC.
There is not as I explained in my previous comment. Or put another way there can be all the correlations you want to make up if the sample is small and there is nothing more to support the supposed correlation than one thing has happened after the other a majority of that small sample of time. Isn't this great news, a large institution is buying and Hodl BTC. As long as these institutions/companies buy and hodl, it means that BTC is increasingly popular as an investment which will have the impact of increasing prices in the long term.
Well, the purists would tell you that Bitcoin was not designed for centralized mega-entities to go hoarding, no matter how much of a Bitcoin influencer is at the helm.
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satscraper
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September 25, 2023, 02:30:55 PM |
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It is a good news as to how fast this would also steer other organisations to adopt Bitcoin and also making it a payment option to their businesses. So far, this is the only organisation I have heard and seen online that are fully into supporting the Bitcoin evolution. Their purchase of Bitcoin is someworth having a positive impart on the other businesses leading them to follow up step of micro strategy as they are doing. I can boldly tell that this step taken by them would definitely yield positive results in the nearest future and I must say this that come bull run next year, they are aiming for a huge amount of profit as a return for their consistency in the investment on Bitcoin.
Good or bad news is always a matter of perspective. In my view it would be better if those thousands were bought by small investors. Bitcoin consolidation in a few pairs of hand is not quite good as it creates base for potential market manipulation with the intent to rob the retail holders. Holding of 158,245 BTC leaves manipulation wide open.
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Ndabagi01
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September 25, 2023, 02:32:32 PM |
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This is yet another piece of positive news for the bitcoin community as MicroStrategy, a big company, continues to add bitcoin to their portfolio. This will raise awareness and interest in bitcoin among those who have trust in such companies. They are taking full advantage of the market to acquire additional bitcoins, which will result in a significant profit for them in the future. They've bought another 5,445 Bitcoin for a total amount of $147.3 million. I wouldn't be shocked if they add more before the bull run; they've expressed a strong interest in this project and are working hard to complete it in order to increase their earnings later.
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Crypto Library
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September 25, 2023, 02:51:46 PM |
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Honestly, I don't really understand the correlation between BTC price and Microstrategy buying BTC. Many people say everywhere that if MSTR buys BTC it means there will be a price drop in BTC. But let's draw a straight line properly. Isn't this great news, a large institution is buying and Hodl BTC. As long as these institutions/companies buy and hodl, it means that BTC is increasingly popular as an investment which will have the impact of increasing prices in the long term. Plus BTC has limited stock and will also face the halving?
In fact, the Bitcoin adoption of these big whales organizations looks good. But here I see something a little different, Because the more Bitcoin adoption these whales have, the more they can try to manipulate the market. Perhaps the adoption of Bitcoin by such a large organization may increase interest in adoption among the public, but this is how I see it. I don't think large scale Bitcoin adoption will only be good for these big institutions, but instead I think large scale people adopting Bitcoin will be a plus point for Bitcoin and the cryptocurrency industry.
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Helena Yu
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September 25, 2023, 03:01:59 PM |
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Good or bad news is always a matter of perspective. In my view it would be better if those thousands were bought by small investors. Bitcoin consolidation in a few pairs of hand is not quite good as it creates base for potential market manipulation with the intent to rob the retail holders. Holding of 158,245 BTC leaves manipulation wide open.
The only way to manipulate Bitcoin price is need all the existed Bitcoins, 150K BTC that Micro Strategy hold is still far from 19 Millions. It's true they might announce they sell their coins or buy more coins, or their activity are been watched by whale alert. But if people are concerned about huge amount of Bitcoins moved, it's safe to assume they're not a real Bitcoin holders as they can't trust with their own decision.
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lombok
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September 25, 2023, 03:03:15 PM |
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I'll put it another way: past correlations are of little use in guessing the future and if they are of any use at all it is because the sample is large and there is more to support the hypothesis than a certain regularity in the sample.
I still don't understand this correlation. However, what I am sure of is that this happened naturally, where BTC had to fall in price to coincide with the MSTR buying action. Well, the purists would tell you that Bitcoin was not designed for centralized mega-entities to go hoarding, no matter how much of a Bitcoin influencer is at the helm.
Large companies like MSTR make purchases and hodl BTC, which does not necessarily mean that their goal is to make a big profit when the value of BTC rises. We don't know for sure what MSTR's intention is to just buy and hold (in the sense of investment), or whether MSTR make it buy and hold so that later they will also adopt BTC and its technology into their company (here adopting means accepting blockchain and BTC innovation and then implementing it in the system company). Of course these two directions will have different impacts on the value of BTC in the future. We also need to be aware that this action taken by MSTR could also backfire if BTC experiences a sharp price decline which could affect MSTR's liquidity.
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Aanuoluwatofunmi
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September 25, 2023, 03:03:39 PM |
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The rate at which microstrategy buy their bitcoin is fast increasing as ever because they have always seen opportunities in doing so, most often, what we only hear is when they make move on buying more bitcoin and we hardly heard about anything concerning if they sell or release any, they understand the market potential with bitcoin and just as this October had already been viewed by many, there's more indication that the market may rise and make some changes to pull out of the prolonged dip, this is another additional benefits on microstrategy for holding more additional bitcoin for profitability.
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kro55
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September 25, 2023, 03:03:43 PM |
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I think buying bitcoin in such large quantities will give MicroStrategy a huge profit when the bull season comes, but not give us any profit. But why do people feel so happy? I agree that large institutions and corporations participating in bitcoin holdings will create more popularity for bitcoin, but if they only focus on profits and are willing to dump bitcoin when they reach their profit target. Is that still a good thing for bitcoin? And they will do it again and again, they will manipulate the market to their will, is that good?
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franky1
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September 25, 2023, 03:11:07 PM |
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he is not DCA'ing on a regular basis.. he is sporadic inventing. randomly buying at different times of the year with no pattern
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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The Sceptical Chymist
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September 25, 2023, 03:13:31 PM |
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The amount is not that much, but still, if it will be used for holding purposes then the demand will increase oversupply. Simple as that. How many of you found it a good news?
Not that much for him, but Jesus....I'd never have to work another day in my miserable little life if I had that much bitcoin (lol). I'm not so sure about your assertion that Saylor's purchase is going to have an effect on the supply/demand curve. Bitcoin has gone up a little bit since this news, but the market cap is such that there would have to be a massive, massive purchase made in order to have an effect on the price. Plus Saylor isn't the only person or institution out there with deep pockets buying bitcoin, so I'm indifferent. Anyone know what his endgame is as far as how much he wants to acquire? I'm not sure if I've ever read anything about that. The way he's going, it's like no amount of bitcoin is ever going to be enough for him. I kind of admire that, though I still have questions about his use of MSTR's money to make the purchases--but the shareholders don't seem to mind as much as I thought they would, so presumably there's not much of an issue with that.
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Majestic-milf
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September 25, 2023, 03:19:08 PM |
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Michael Saylor bought around 5,445 more BTC. At an average price tag of $27,053 per Bitcoin and the total investment is around $147.3 million. Which is a big milestone in the adoption of BTC. We all know the adoption of BTC is increasing day by day. This is a good news. Now the total holdings of MicroStrategy is around 158,245 BTC which is worth around $4.68 billion, bought at an average price tag of $29,582 per Bitcoin. This also shows that DCA is better for long-term investments. But we have also observed a pattern in which MS sell their some funds in the last month of the year to save themselves from tax. The amount is not that much, but still, if it will be used for holding purposes then the demand will increase oversupply. Simple as that. How many of you found it a good news? https://bitcoinmagazine.com/business/michael-saylors-microstrategy-buys-5445-bitcoin-147-3-million Well, this news can go both ways; positive and negative. For the positives, this can cause a lot of buzz in the market and probably investors can follow his footsteps and purchase which might lead to an upward movement in price of Bitcoin. As a major player in the Bitcoin world, his influence could help quell FUD. And for the negative? There's no way the need for market manipulation won't come into play as he has purchased a total of 158,245 BTC. Saylor has the belief that buying one Bitcoin gives the holder an ownership of 1/21,000,000 of all the money in the network and while some might say he's making such a statement from an investor angle, I feel if there's a way to hold Bitcoin for a select elite, he'd do it.
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