• MicroStrategy has increased its Bitcoin (BTC) holdings by 12,333 BTC, worth around $372 million at current prices.
• The company now holds a total of 152,333 BTC with an average purchase price of $29,668 per Bitcoin.
• CEO Michael Saylor expects the market share for Bitcoin to rise to 80%, while other tokens face regulatory scrutiny.
MicroStrategy Increases Bitcoin Holdings
MicroStrategy Inc., a business intelligence firm led by CEO Michael Saylor, recently announced that it has invested another $372 million in Bitcoin (BTC). According to the filing with the U.S. Securities and Exchange Commission, this brings the total amount of BTC held by MicroStrategy up to 152,333 coins. With an average purchase price of $29,668 per coin, this puts their entire stash at roughly $4.6 billion at current prices – slightly in profit.
Michael Saylor’s Crypto Maximalism
Michael Saylor is known as a crypto maximalist – he believes that cryptocurrencies will eventually dominate the financial system and that Bitcoin will take up most of the market share in comparison to other coins or tokens. He has been vocal about his opinion on Twitter and other platforms since 2020 and he recently predicted that Bitcoin’s market share could climb up to 80%. This prediction was made due to recent regulatory pressure put on altcoins like Cardano (ADA), Polygon (MATIC), and Solana (SOL).
Bitcoin Price Performance
As of press time, one BTC was trading at around $30,152 USD; an increase of 4% over the past week according to CryptoSlate data. It is likely that MicroStrategy’s investments are helping contribute positively to its value as well as generate money for itself – but only time will tell if this move proves beneficial for both parties in the long run.
The Impact Of Regulatory Pressure On Altcoins
Altcoins have faced increasing regulatory pressure from authorities around the world in recent months which could lead them towards extinction if they are unable to comply with local laws or regulations regarding digital assets such as cryptocurrencies or blockchain technology-based products or services. Despite this uncertainty surrounding altcoins however, many investors remain hopeful about their future prospects and believe they can still thrive despite these challenges posed by governments and institutions worldwide.
MicroStrategy’s bold move into investing heavily into Bitcoin demonstrates its faith in cryptocurrency’s potential as well as its commitment towards revolutionizing traditional finance through digital assets such as BTC – something which may end up paying off handsomely for all involved should it prove successful over time!