The purchase of Bitcoin cryptocurrency was made pursuant to the two-pronged capital allocation strategy previously announced by the company when it released its . Apr 14, · The best Bitcoin trading strategy is an 85% price action strategy and a 15% cryptocurrency trading strategy that uses an indicator/5(48). Dec 21, · MicroStrategy’s CEO Michael Saylor took to Twitter to announce that the firm has purchased an additional ~29, Bitcoins for about $ million “in cash in accordance with its Treasury Reserve Policy.” The CEO disclosed that the firm made the purchase at an average price of approximately $21, per Bitcoin. To date, the firm holds an [ ].
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It is a deliberate corporate strategy to adopt the Bitcoin Standard. Saylor was also critical of other cryptocurrencies , claiming that Bitcoin was proven while Ethereum is not yet done with its functional architecture. He said:. When comparing Bitcoin to gold, Saylor cited the crypto assets history of increasing in value, its scarcity and limited supply and its functionality in terms of storage and transport of wealth as features gold could not match.
Saylor also adamantly expressed to Pal that contrary to speculation in the crypto market that the business intelligence firm is trying to capitalize on a fast pump and dump, Microstrategy is thinking long-term on Bitcoin.
In short, GBTC is a reasonable investment offering for the novice in the Bitcoin space, but it comes with embedded risks high premium and high management fees beyond those normally bandied about concerning crypto in the popular press. MicroStrategy's CEO, Michael Saylor, is the person that convinced me of the necessity of investing in digital assets and, Bitcoin in particular. A technologist with degrees in engineering and the history of science from MIT, Saylor's long form YouTube interviews are critical to understanding the monetary network that is Bitcoin.
Bitcoin is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy. Money is energy. I'm not going to rehash his arguments in favor of Bitcoin here check out his videos on YouTube ; that's not the purpose of this article.
So, as noted above, I was funneling proceeds from GBTC sales into MicroStrategy but also buying the stock outright because it was a conservative way to get exposure to Bitcoin given the growing software business.
And the investment was working very well, with steady price increases, although not necessarily the rocket ship that was GBTC. In this interview from last month, Saylor explains why buying bitcoin today is like buying early in Apple, Facebook, Google, or Amazon. Today, MSTR owns more bitcoin than any other publicly traded company.
Therefore, MSTR is trading at just 2. Saylor has stated that MSTR will use bitcoin as its primary treasury reserve asset and will purchase additional bitcoins with excess cash flow going forward. In addition, MSTR is looking to build a suite of bitcoin data services. Significantly, however, the Citron Report also spoke very highly of MicroStrategy's software business:. With a new product cycle, MSTR is finally pointed in the right direction and setup for continued growth.
With MicroStrategy and GBTC both soaring, from a psychological perspective, I am finding it difficult to add more to these positions, absent a material pullback which is likely to come!