MicroStrategy Now Holds 40k BTC After The Recent $50 Million Worth Purchase

Bitcoin’s mass adoption continues, and this is pretty impressive considering the fact that there is not too much BTC left to mine.

It’s been revealed that MicroStrategy decided to buy even more Bitcoin these days.

Here’s the official tweet:

Someone commented: “That price average sounds awfully high… Didn’t you start buying at like 8k how did you end up with a cost basis of 19500?”

A follower posted this message: “@michael_saylor is one of the savviest investors on the planet. Take note of the price he paid. He just showed you that there is no real size below his price. Large institutions know this. He just blew their cover. Heed the signal. Listen.”

Bitcoin supply shock

Hodlonaut also pointed out the same thing:

A follower said: “The supply shock will shock everyone. The world is about to change drastically. Gradually then suddenly. There won’t be any bitcoin left for plebs shortly. Bitcoin 300-500k by the end of year. It won’t come back after that. Only go higher. People aren’t ready.”

Someone else pointed out the to the fact that “the price of BTC is simply set by the price the weakest hands are willing to accept to part with their Bitcoin. Once the supply has moved into the hands of the true hodlers, bids are going to have to skyrocket to get anyone to part with some of their bitcoin.”

Today, Bitcoin is trading in the red and the king coin is priced at $19,040.66.

Companies Mentioned

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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