Topic: Microsteel keeps buying into BTC - page 2. (Read 470 times)
They have been a long time supporter of bitcoin so it's understandable why they keep on buying, they believe and are banking on the potential of bitcoin to go up exponentially in the future and they have the means to buy a lot of bitcoin so why pass up on the opportunity right?
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Maybe $50000, who knows. Predicting bitcoin price may be inaccurate, but we should at long term expect all-time-high, all-time-high is achievable but it may not be this year.
The price is around those ranges, so hitting $50000 is not a huge deal as it can happen in a single hour if the bulls are back in action. The other aspect is that i am expecting a major correction by next year which could take the market down well below $30000.Maybe $50000, who knows. Predicting bitcoin price may be inaccurate, but we should at long term expect all-time-high, all-time-high is achievable but it may not be this year.
If we are to expect the bulls to cross another all time high then this is the best time to breach those valuations and most probably by the end of this year and once the bear market starts to hang over our head it would take another 3 years to reach any newer levels.
My major concern is how these institutional investors makes their plans as they are holding huge number of coins and when they will be dumping those coins in the market.
Microstrategy bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins. When they continuously buy Bitcoin in stages will it cause BTC to break ATH again? What do you expect for BTC at the end of 2021?
All time high price is achievable but it doesn’t happen as constantly as people wants it to.I have notice that every time something happens in this space, people are always talking about all time high price and whether the market will be bullish. But, it doesn’t work like that. We have already experienced a bull run from last year ending to earlier this year, so why are people still talking about bull run and all time high price?Of course, it will happen again but it’s not going to be anytime soon, I don’t even think it is something that is going to happen this year again. But the price is still going to maybe get over $50,000 or $60,000, Which is good if you ask me.
What do you expect for BTC at the end of 2021?
Still bullish even if there will be upcoming and expected corrections.And when it pursues and goes higher, that's more than enough from the past that we've seen its price dropped a lot. This is very much acceptable for those who have been holding since 2020 and earlier than that year.
In 10 years time, Michael Saylor is going to end up being either a giga-brain genius, or a straight-up laughing stock. I don't think there's any in-betweens lol; he's just balls deep into bitcoin. MSTR literally owns 0.54% of the total bitcoin supply now.
There is another possibility too. A third option where the same thing that has been happening to anything centralized that also advertises their "wealth" happens, getting hacked. We've seen huge hacks in the past of companies (usually exchanges) that claim to have cold storage and top security and the hacker takes all...Lol. Really?
I don't remember of any case but you have been in the Bitcoin world much longer than I have. Saylor is not a hair of a fool, which is not to say that smart people can't do stupid things.
With how much he has studied Bitcoin, which he demonstrates when he speaks, I would be very surprised if he didn't have his holdings spread over several multi-sig wallets and with the seeds hidden in several secure places.
There's a DAO hack before which hacker stole $60 Million of Ether last 2016 and Ethereum Parity worth $280 Million. This 2 incident is the biggest succesful hack happened on Ethereum due to code vulnerabity. I don't know if this is possible for microstrategy since we don't know what is the security they are using but there's always a possibility since this is crypto and a lots of inside job hapened before.
Sources:
https://www.gemini.com/cryptopedia/the-dao-hack-makerdao#section-what-is-a-dao
https://securityaffairs.co/wordpress/65413/hacking/ethereum-parity-wallet-hack.html
Why would you bring that to the conversation. It like saying my money is not safe under my bed, because an ATM was smashed into and cash was stolen.
I don't recall Michael Saylor hodling any ETH?...
In 10 years time, Michael Saylor is going to end up being either a giga-brain genius, or a straight-up laughing stock. I don't think there's any in-betweens lol; he's just balls deep into bitcoin. MSTR literally owns 0.54% of the total bitcoin supply now.
There is another possibility too. A third option where the same thing that has been happening to anything centralized that also advertises their "wealth" happens, getting hacked. We've seen huge hacks in the past of companies (usually exchanges) that claim to have cold storage and top security and the hacker takes all...Lol. Really?
I don't remember of any case but you have been in the Bitcoin world much longer than I have. Saylor is not a hair of a fool, which is not to say that smart people can't do stupid things.
With how much he has studied Bitcoin, which he demonstrates when he speaks, I would be very surprised if he didn't have his holdings spread over several multi-sig wallets and with the seeds hidden in several secure places.
In 10 years time, Michael Saylor is going to end up being either a giga-brain genius, or a straight-up laughing stock. I don't think there's any in-betweens lol; he's just balls deep into bitcoin. MSTR literally owns 0.54% of the total bitcoin supply now.
There is another possibility too. A third option where the same thing that has been happening to anything centralized that also advertises their "wealth" happens, getting hacked. We've seen huge hacks in the past of companies (usually exchanges) that claim to have cold storage and top security and the hacker takes all... 
Apparently the current daily bitcoin trading volume is about 800k btc so theoretically if they sell their 100k btc within a couple of weeks for example, it shouldn't be noticeable.
I am more of the opinion that big institutions only give out news of when they are buying but only after that and they do not give out the news of when they are selling unless they have a reason to. They are more likely to sell of in portions slowly as the market rises after the news hits. They are in it for the profit and they know how to make it. Older bitcoin traders who have been watching the market have already figured this out.Of course as long as the desired profit is crossed they will continue to FOMO the newbies into buying more and then wait for the crash to happen once again.
Celebs do the same thing too, just that some celebs have a big mouth. I am sure you have understood the pattern by now.
Microstrategy will help Bitcoin break another ATH in the near future not just by buying but by continuously hodling what they currently have. What Microstrategy has is a big amount of Bitcoin. Perhaps they will still continue to buy the dip in the future. But they cannot push Bitcoin to another ATH alone. There has to be a reason, or a bullish news, or a strong buying sentiment, etc to really push Bitcoin to another ATH. Microstrategy is just one fish in the ocean.
On the contrary, Microstrategy buying large quantities of bitcoin does not lead to a break in the price of bitcoin, but rather is an indication of expectations of a rise in bitcoin again. Large companies do not venture to buy large quantities of bitcoin unless they have very strong analyzes and indicators of a rise in prices again, so I see that Microstrategy's continued purchase of additional amounts of Bitcoin has very strong indications that we will witness new Bitcoin peaks soon.
Microsteel bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins.
Scary what they can do with all that money isnt it? How much did you manage to squeeze from your wallet and buy?Quote
When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?
If someone buys, someone dumps too. That is how the cycle is maintained. If ATH is broken, people will dump and exit and therefore a correction will happen. It can reach ATH but, IMO will also drop. Unless someone else also wants to keep buying.Quote
What do you expect for BTC at the end of 2021?
I do not expect anything for bitcoin. Having expectations only effects how you trade. Rather look into the things happening and if they are bullish buy now and sell when it rises. We still have three months remaining and the Winter is unpredictable for the market. So better keep both fiat and BTC ready.Apparently the current daily bitcoin trading volume is about 800k btc so theoretically if they sell their 100k btc within a couple of weeks for example, it shouldn't be noticeable.
But who knows
Well, that's not much of a surprise because microstrategy always supports bitcoin. They are supporting bitcoin very positively. That is why they are holding $5k+ bitcoin. And they always share it. That is why when they tweet about it, the bitcoin price doesn't change too much. Now there are some companies who didn't share anything about bitcoin. If they tweeted about bitcoin, then the bitcoin price might pump aggressively. What happened the previous day with Litecoin? A fake news spread from a Litecoin account, but that tweet gave a huge pump to Litecoin. If the real news hadn't come then yesterday, Litecoin would have broken its ath. I believe that, so I think bitcoin now needs some more big companies. Microstrategy is now a house for btc.
Lol, it seems that the OP intentionally call them that name because that's what they do, steal bitcoin from those newbies or those who decided to sell it right now. As for the effect, they have been in crypto space now, they have bought a lot so possible that other big companies and whales could be tempted to do what Microstrategy is doing, accumulating bitcoin and buyin the f**ing dip.
Well, OP used the word "steel" not "steal" so I don't think that it's the right hypothesis, also how can they be stealing those bitcoins though, those newbies decided to sell their bitcoins and they weren't coerced by the company so why put the blame on the company? Microstrategy bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins. When they continuously buy Bitcoin in stages will it cause BTC to break ATH again? What do you expect for BTC at the end of 2021?
yeah it will but no one knows what will be the next value of it since it's very unpredictable due to the volatility and attitude of some whales in the market , wherein it depends on the circumstances probably. By the way it's not surprising that many companies and investors trying to fill more their bags with bitcoin especially when the prices is going down because that's how they can become profitable, indeed those big companies is the main reason why bitcoin always going up after the hard fall because of their big contribution on it, so don't be surprise as well how bitcoin can break new all time high in the future. 60k isn't enough mate, just keep holding if you own bitcoin..
Microsteel bought +5050 more Bitcoin statistics, this company now owns a total of: 114,042 Bitcoins.
Scary what they can do with all that money isnt it? How much did you manage to squeeze from your wallet and buy?Quote
When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?
If someone buys, someone dumps too. That is how the cycle is maintained. If ATH is broken, people will dump and exit and therefore a correction will happen. It can reach ATH but, IMO will also drop. Unless someone else also wants to keep buying.Quote
What do you expect for BTC at the end of 2021?
I do not expect anything for bitcoin. Having expectations only effects how you trade. Rather look into the things happening and if they are bullish buy now and sell when it rises. We still have three months remaining and the Winter is unpredictable for the market. So better keep both fiat and BTC ready.
Although I don't know every single detail, it still appears to be quite risky!
For a company to do what Microstrategy does, they have to have quite high appetite for taking risk. And until now it did pay off.
Microsteel
Is this a mix between MicroStrategy and "balls of steel"?
When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?
In theory, it should have a positive impact on the price but not to an extent that it'd break ATH [we need a chain reaction of some sort to achieve such a thing again]...- I do agree with @thecodebear's comment.
What do you expect for BTC at the end of 2021?
I posted the following "prediction" back in June.For those who don't have knowledge, this is legit, Microstrategy purchased additional Bitcoin as Michal Saylor (CEO of Microstrategy) tweeted about it, can be found here: https://twitter.com/michael_saylor/status/1437386724443926535
I downloaded the "PDF file" from their websites and it seems that they're selling shares in order to buy BTCitcoins [screenshot]. Although I don't know every single detail, it still appears to be quite risky! 
Lol, it seems that the OP intentionally call them that name because that's what they do, steal bitcoin from those newbies or those who decided to sell it right now. As for the effect, they have been in crypto space now, they have bought a lot so possible that other big companies and whales could be tempted to do what Microstrategy is doing, accumulating bitcoin and buyin the f**ing dip.
Keep in mind that some orders probably happens through OTC, so even if they buy a lot of coins, the price might not change. I doubt they will dump it directly on the public market too since it might reduce the profits. Just like the last dump, it happens due to various short orders get triggered, not entirely because some whales are dumping their stash. CMIIW.
In 10 years time, Michael Saylor is going to end up being either a giga-brain genius, or a straight-up laughing stock. I don't think there's any in-betweens lol; he's just balls deep into bitcoin. MSTR literally owns 0.54% of the total bitcoin supply now.
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