It wasn鈥檛 even up to 24hours yet that I wrote a post on a throwback to June when Microstrategy bought 13,000 Bitcoin for close to half a million dollars at the price of $37k each and after nearly 2 months made a profit of close to $150m. Earlier yesterday, another announcement was made that Microstrategy purchased another $177m worth of Bitcoin at the average price of $45,294 each.
It only makes sense that the profit made from the last purchase will be reinvested to acquire even more Bitcoin. It is not far fetched to believe that Microstrategy must have done the same projections they did when Bitcoin was at $37k again at $45,295, if there鈥檚 any signal to follow the money, this must be it, but then again, Microstrategy must have projections for the long run and not short term profits like this one, so if anyone is following, it will be wise to cut their coats.
Today, Microstrategy now holds a total of 108,992 Bitcoin, valued at $2.98b. I鈥檝e seen rumors from people saying Microstrategy is planning to dominate the Bitcoin market with all the acquisitions which will make it possible to manipulate the market when they eventually own enough. We wanted institutional investment, now it鈥檚 here and people are crying wolf. Sometimes I don鈥檛 get people.
Micheal Saylor being a visionary is buying all the Bitcoin Microstrategy owns directly from the market like everybody else. So what if Microstrategy wants to dominate the Bitcoin market? Well at least they are doing it the right way, given the same opportunity that everyone has, moreover, the fact that Microstrategy is going in heavy doesn鈥檛 mean the rumors are true, they are just better at putting their money where their mouth is.
For me, I have no problem with Microstrategy owning more than 40% of Bitcoin supply, how they eventually use their position is totally up to them. If people are so concerned then they should be buying instead of talking or complaining. This attitude is also apparent here on Hive, Whales buy tokens and work their way up, while some only complain that they are being too rewarded.
In crypto while some are doing the walking, others are doing the talking, don鈥檛 be caught on the side of the talkers, they never get anything done.