Major Bitcoin Whales micro strategy During the price correction, the company added an additional $623 million worth of BTC to replenish its Bitcoin supply. MicroStrategy Chairman Michael Saylor took the X The new acquisition was announced on March 19.
According to Thaler’s post, MicroStrategy currently holds 214,246 shares BTC tokens are worth approximately $7.5 billion.
MicroStrategy continues to accumulate Bitcoin
MicroStrategy can be said to be The most active Bitcoin whales, Regularly adding to its already massive supply of Bitcoin. The asset management company’s latest BTC token purchases averaged $67,382 per coin, with a total value of approximately $623 million.
MicroStrategy used convertible note proceeds and excess cash to acquire an additional 9,245 BTC for approximately $67,382, for a price of approximately $623 million #bitcoin. As of March 18, 24, $MSTR Holds 214,246 Bitcoin USD Acquired for approximately $7.53B at an average price of $35,160 per Bitcoin. https://t.co/oeYJGgiuy0
— Michael Saylor ⚡️ (@saylor) March 19, 2024
according to ThalerThe $623 million recently spent on Bitcoin purchases was proceeds realized through convertible notes and excess cash. This purchase coincides with Bitcoin price drops It formed after rebounding to a new all-time high of $73,750.Bitcoin is currently $62,000 – Price range is $63,000.
Notably, MicroStrategy took this dip as a buy signal, quickly adding to its strong Bitcoin holdings. With the latest BTC acquisition, MicroStrategy’s total holdings have now reached 214,246 BTC, with an acquisition price of approximately $7.53 billion, or an average of $35,160 per BTC token.
Notably, the company’s Bitcoin holdings have grown to approximately $13.5 billion, with unrealized profits estimated at $5.92 billion. Micro strategy established As a cloud-based mobile software service provider.
However, the company began actively accumulating Bitcoin in September 2020, and its chairman, Michael Saylor, is a staunch supporter of Bitcoin.
Furthermore, with the exception of the last two purchases, MicroStrategy has been highly profitable on all of its BTC investments. The most recent purchase was also made one week after MicroStrategy was purchased additionally. 12,000 Bitcoin Valued at $821.7 million.
Reaction to the MicroStrategy acquisition
While MicroStrategy celebrates its latest acquisition, some industry experts believe it’s a reckless move. Reacting to this development, staunch gold supporter and Bitcoin critic Peter Schiff said: condemn MicroStrategy Purchase.
According to Schiff, MicroStrategy’s “Reckless leveraged buying” has not affected the price of Bitcoin, which is still down 15% from the all-time high set five days ago.
Yet despite your reckless leverage buying, Bitcoin is still down 15% from its high price just five days ago. Now that you’ve finished buying at the bottom, you can actually exit the market. When Bitcoin reaches 20K MSTR, its value will be reduced by $3.25 billion. 10K MSTR will be reduced by $5.5 billion.
— Peter Schiff (@PeterSchiff) March 19, 2024
Schiff believes that Bitcoin could fall further, at which point MicroStrategy would incur significant losses.
When Bitcoin reaches 20K, MSTR will fall by $3.25 billion. At 10K, MSTR will be reduced by $5.5 billion, Schiff pointed out
However, an X user, (real)DegenXRPHolder, refuting Schiff’s claims.According to X user, Schiff has admitted that he missed Bitcoin a few years ago but hopefully He didn’t. He rebuked Schiff for criticizing MicroStrategy.
Another X, user RachelIn response to these criticisms, Peter Schiff was asked how rich his clients would have been if they had bought Bitcoin instead of gold 10 years ago.
Rachel further asked Schiff if his clients were threatening to sue him because his obsession with Bitcoin denied them opportunities.
These reactions confirm that BTC has strong support from the cryptocurrency community, with many investors The upcoming halving event. While some are panicking about the recent correction, investors like MicroStrategy see the price drop as an opportunity to accumulate more coins before the next rally.
