MicroStrategy follows El Salvador and buys the dip, adding 7002 BTC

Microstrategy 500 million bond bitcoin cryptocurrency

Another correction, another opportunity? Many think so, and among them are Salvadoran President Nayib Bukele and MicroStrategy CEO Michael Saylor.

El Salvador does not slow down

Black Friday has become a real occasion in the crypto market. While Bitcoin took an 8.8% dive that day, El Salvador’s President Nayib Bukele, once again commissioned the purchase of BTC for his national portfolio. Thus, he acquired another 100 pieces of the largest cryptocurrency.

Recall that this small country from the Central American region, is the first to adopt Bitcoin as legal tender. This took place in September of this year. Since then, every market correction is perceived by President Bukele as a buying opportunity. In the face of this, El Salvador’s treasury is estimated to hold around 1220 BTC.

MicroStrategy is also buying

El Salvador was not the only one to perceive the correction as an investment opportunity. MicroStrategy did the same. The company managed by Michael Saylor has made massive purchases totaling as much as 7002 BTC. The investment was announced on Twitter by the interested party himself:

MicroStrategy has been the publicly traded company with the largest proprietary BTC holdings to date, and increasing them only solidifies the company’s leadership position. It didn’t take Michael Saylor particularly long to reach this level at all. As he himself declared at this year’s conference in Miami, he made his first purchases in June 2020.

Since then, Saylor has steadily acquired new coins while focusing exclusively on Bitcoin. His portfolio has grown, benefiting from virtually every market correction. Saylor himself has become the face of the 2020/2021 bull market, holding multiple conferences for potential investors. 

MicroStrategy is raising money for purchases by issuing new bonds, among other things, and Saylor declares that neither he nor the company, no matter what happens to the price of BTC, will ever sell their own funds.

A bullish signal for the market?

Both Salvador and Microstrategy’s portfolios are among the market’s whales. The moment in which these accumulate is usually a signal suggesting the possibility of further increases in the value of Bitcoin to come. So will this be the case and will we see a dynamic price movement in the last month of the year? We will soon find out.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load