• Consulting 24

Michael Saylor, the CEO of MicroStrategy, shares the firm’s unexpected Bitcoin purchasing strategy

This kind of effort may present a long-term commitment to the asset class.

Mainstream company intelligence behemoth MicroStrategy has made a number of titles lately for its first $250 million Bitcoin (BTC) investment. The business later put a subsequent $175 million into the asset — a long effort totaling about 100 hours of work. 



On Friday MicroStrategy CEO said in a tweet: 

"To acquire 16,796 BTC (disclosed 9/14/20), we traded continuously 74 hours, executing 88,617 trades ~0.19 BTC each 3 seconds." 

He added, “Approximately $39,414 in BTC per minute, but at all times we were ready to purchase $30-50 million in a few seconds if we got lucky with a 1-2% downward spike," referencing the company's enthusiasm to purchase BTC at a cheaper price if the chance presented itself.


MicroStrategy is one of the newest mainstream big company's joining the crypto space. 

According to an Aug 11 statement, the firm took a leap of trust into Bitcoin, picking up 21,454 BTC, worth $250 million at the time, placing the coin in place as a reserve asset for the entity.


Following the initial investment, the entity purchased an extra 16,796 Bitcoin, which took some time and energy, as seen in Saylor's tweet. 


While presenting a mainstream interest in the asset, the mass-scale Bitcoin pickup also showed the coin can scale efficiently as a store of worth — a dilemma in people's minds since 2017, when the network decreased dramatically while also demanding high transaction charges.


More information about company and crypto license registration in Estonia: www.consulting24.co

Consulting24 OÜ is the fastest-growing consultancy company in Estonia by volume and has obtained over 300 crypto licenses. We have both tailored and ready-made companies for sale. Consulting services cover: company registration in Estonia, acquire a crypto license, open crypto-friendly banking, local/director AML recruitment, accept debit/credit card payments, draft terms & conditions.

If you are interested in services, contact us mardo@consulting24.co

#microstrategy #michaelsaylor #bitcoinvalue #digitalcurrency #technology #bitcoin #crypto #cryptocurrencyconsulting #blockchain #cryptocurrencyconsultingfirm #consulting24 #estonianmafia #estonia #companyinestonia #companyformation #companysetup

2 views

​© 2018-2020 Consulting24.co is brand of Heaven Invest OÜ I Service provider of trust funds and companies I Operating license nr. FIU000276