{"id":125380,"date":"2021-05-17T19:26:30","date_gmt":"2021-05-17T19:26:30","guid":{"rendered":"https:\/\/precoinnews.com\/?p=125380"},"modified":"2021-05-17T19:26:30","modified_gmt":"2021-05-17T19:26:30","slug":"for-big-investors-the-recent-bitcoin-drop-presents-more-buying-opportunities","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/for-big-investors-the-recent-bitcoin-drop-presents-more-buying-opportunities\/","title":{"rendered":"For Big Investors, the Recent Bitcoin Drop Presents More Buying Opportunities"},"content":{"rendered":"

Bitcoin has fallen deeply into a state of oblivion. Once trading for well over $64,000, the world\u2019s number one digital currency by market cap has lost nearly $20,000 in value since last month and is presently trading for just over $47,000.<\/p>\n

Bitcoin Is Still Being Bought Up<\/h2>\n

Among many analysts is an attitude of gloom and doom. Some consider the end of bitcoin to be near, while other largescale investors \u2013 such as Michael Saylor of MicroStrategy fame \u2013 think that this is the perfect opportunity to add more bitcoin to their private and company stashes and buy up.<\/p>\n

Saylor has recently come out and admitted that not long after Elon Musk announced his company would not be accepting BTC payments for goods and services, his company purchased another $15 million worth of the digital asset. The recent dip can likely be attributed to Musk\u2019s sudden dismissal of BTC payments, which a lot of people in the crypto space were relying on.<\/p>\n

This was going to be a major push forward in the world of BTC. It would be seen as a legitimate and mainstream method of payment considering such a huge, billion-dollar company would allow its usage alongside fiat and credit cards.<\/p>\n

Sadly, it does not look like this is going to pass, and bitcoin has suffered as a result, but for people like Saylor, the present conditions offer more opportunities to take advantage of. In a tweet, Saylor announced his company\u2019s recent purchase:<\/p>\n

\n

MicroStrategy has purchased an additional 271 bitcoins for $15 million in cash at an average price of about $55,387 per bitcoin.<\/p>\n<\/blockquote>\n

Thus far, the company has accumulated nearly $2.5 billion in BTC over the past nine months according to a filing with the Securities and Exchange Commission (SEC). MicroStrategy was one of the first major institutions to pledge public support to bitcoin and initially began buying the asset in August of last year.<\/p>\n

While Saylor looks at the recent situation as something positive for men like himself, others are expressing disdain with Elon Musk and the fact that he is constantly saying things that have large effects on bitcoin and its competing altcoin cousins.<\/p>\n

Maybe It’s Time to Think Before You Talk<\/h2>\n

Dennis Kelleher \u2013 CEO of Better Markets in Washington \u2013 explained to reporters:<\/p>\n

\n

The problem here is that a loose cannon CEO continues to shoot his mouth off about any number of potential market-moving events. It is clearly grossly irresponsible, but it may not be illegal.<\/p>\n<\/blockquote>\n

For the most part, there is no evidence supporting the idea that Musk does what he does or says what he says on purpose. It could be that he just simply does not realize his power within the industry yet. However, perhaps it is time he takes a breather and really thinks about his next steps regarding crypto, as it clearly has an effect on the rest of us.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has fallen deeply into a state<\/p>\n","protected":false},"author":3,"featured_media":125379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nFor Big Investors, the Recent Bitcoin Drop Presents More Buying Opportunities - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/for-big-investors-the-recent-bitcoin-drop-presents-more-buying-opportunities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"For Big Investors, the Recent Bitcoin Drop Presents More Buying Opportunities - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has fallen deeply into a state\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/for-big-investors-the-recent-bitcoin-drop-presents-more-buying-opportunities\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-17T19:26:30+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/05\/For-Big-Investors-the-Recent-Bitcoin-Drop-Presents-More-Buying-Opportunities.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/for-big-investors-the-recent-bitcoin-drop-presents-more-buying-opportunities\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/for-big-investors-the-recent-bitcoin-drop-presents-more-buying-opportunities\/\",\"name\":\"For Big Investors, the Recent Bitcoin Drop Presents More Buying Opportunities - 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