Microsteel keeps buying into BTC | Bitcointalksearch.org

rodskee

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Quote from: asrinur on October 26, 2021, 07:29:19 AM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

I think the price of Bitcoin will continue to rise, especially in the long term, and I expect the price of Bitcoin to reach $70,000 by the end of this year.

Bitcoin already taken 66,000$ so what more in the next 2 months more before the year ends , 70k is a peanut comparing to what achievements bitcoin prove us this whole year alone.

it is 80,000 that I think is the Minimum ATH for bitcoin this 2021 end season.

Quote from: Apes on October 28, 2021, 04:08:56 AM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

they had lot of fund and they know how to make money fast and easy, that's all.
Microstrategy only one of dozens corporation do this practical openly to the public, and the others do stealthy.
are this practical against the law, maybe in some country.

obviously to Lure crypto user to believe in their company , they know what is the benefits of the popularity of bitcoin in their business.

Apes

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

they had lot of fund and they know how to make money fast and easy, that's all.
Microstrategy only one of dozens corporation do this practical openly to the public, and the others do stealthy.
are this practical against the law, maybe in some country.

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Quote from: Fakhrulenclix on October 26, 2021, 08:50:45 AM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

very likely. Of course, the hope of many of us will be to see bitcoin's new ATH at the end of the year, if that happens it means that in 1 year Bitcoin reaches 3x ATH and that is extraordinary.

Don't hope or mind that much so that you wont get frustrated if bitcoin would be stabilizing its price or moving sideways after that recent big price spike.

Lots of institutions and companies had already seen the beauty and potential of bitcoin that's why it isn't surprising that they would be considering on accumulating it,

Its a matter of risk taking though but most of the time they do end up on getting profits.

Fakhrulenclix

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

very likely. Of course, the hope of many of us will be to see bitcoin's new ATH at the end of the year, if that happens it means that in 1 year Bitcoin reaches 3x ATH and that is extraordinary.

asrinur

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

I think the price of Bitcoin will continue to rise, especially in the long term, and I expect the price of Bitcoin to reach $70,000 by the end of this year.

henmark

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Quote from: darkangelosme on October 19, 2021, 09:44:32 PM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

For me i think Bitcoin will reach only 80,000 usd and about that Microstrategy that's own 114,042 Bitcoin i think they want to stock Bitcoin cause they see a lot of potential on it in the future, we can't blame them for doing that even me i will gonna stock some Bitcoin if i were them.

Not only them, many institutions have started accommodating bitcoin regularly so that they believe they could stand and compete against new challenges in funds and investments industry. It means, institutions have already realized about the potential of bitcoin which must be an enough factor to think about bitcoin to be reaching million-dollar levels in coming years.

I read somewhere that in next to 3 to 5 years of time almost all the institutions worldwide must be having bitcoin as part of their portfolio management. So, those who are all deciding fast might be accommodating the more number of bitcoins.

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

For me i think Bitcoin will reach only 80,000 usd and about that Microstrategy that's own 114,042 Bitcoin i think they want to stock Bitcoin cause they see a lot of potential on it in the future, we can't blame them for doing that even me i will gonna stock some Bitcoin if i were them.

STT

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I wouldnt advise anyone to hold just one thing but he has a clear plan and hasnt altered from that, people can always manage their own risks also. No plain retail investor is allowed to deal with him anyway I guess, you have to be rich enough to be buried in money already.

It might be his company that created this uptrend, we seem to have regained that positive pattern and its best not to doubt it until properly proven as over on weekly bars. Seems like BTC just keeps drifting up, there is chance of some upset from rates rising but I got no doubt the central banks cant be relied on to reverse much of the easy money policy they have already instigated.

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Quote from: mk4 on September 13, 2021, 11:45:02 PM

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.

I don't have any respect for this guy at all,even though he is a total 1000% Bitcoin bull.
There's something wrong about him and his Microstrategy fund.Investment funds usually are focused on managing the risks and diversifying the assets in their portfolio.
Microstrategy is all about "buy more Bitcoin and forget about anything else".
I guess that they want to attract all the investors,who want a high risk/high reward ratio.
So far he is doing great,but I don't think that Saylor has any plan B,when the shit hits the fan...

sikke

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

They're probably just executing a Dollar-Cost-Average strategy.

But yeah, this is nothing new. Microstrategy and other institutional investors have been consistently investing in BTC for a while now.

And it's good, it keeps the volatility down quite substantially and also means that their position can ride out a bunch of price fluctuations and take advantage of price at any stage.

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

I wish bitcoin could break $100k this year. But given the fact that I expect it to generate new ATh at $72k, most of the basis on which I predict bitcoin will rise is when Taproot is activated to make bitcoin perfect, All of them I'm both a huge supporter of bitcoin privacy. That's the core thing. For now, accumulation is still the main trend from large institutional investors.

Kyraishi

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

I think that it's certainly going to reduce supply for BTC but also at the same time offer a consistent stream of demand.

The reason why they are doing this is that they are not concerned about the price of BTC - they are just dollar cost averaging into BTC instead of trying to time the market, which is a really good idea given that BTC is such a volatile asset.

Personally, I don't think that Microstrategy is a great investment vehicle given their company structure, but their investment philosphy is admirable.

Bollexz1

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If people like Micheal Saylor co-founder (Microstrategy) could insist on buying Bitcoin, that is sensing to you how big and huge potential the inventory is. Bitcoin indeed remain one of the biggest project ever invented.

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

Indicates that there are companies which do really trust up Bitcoin which is really a plus or add up into the adoption and would be some catalyst for other companies in doing the same thing.
Just let them be if they decide to accumulate because they do saw the opportunity that it could give in future years to come but somehow risk would be always there.
Adoption is still on the move and time will tell on how far we would able to reach out.

Hippocrypto

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

This a great expectations that waits a good outcome, and exactly I've seen a futuristic advantage that Bitcoin has. If possible ATH breaks again $60k would be the best predictions this year before we go beyond than that. Once these great companies ventures on digital currency, for sure others will do.

Spack17

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This kind of news can be seen as FUDs also I think. The companies which continue to buy Bitcoin can't have a direct effect on the price for some time. And this is actually better that it prevents Bitcoin from being manipulated very easily in this way. But it is still a good thing that these companies are doing. They are helping the adoption rate increase as it incentivizes people to buy also.

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Quote from: cafucafucafu on September 16, 2021, 04:50:28 AM

I think that it is a completely rational strategy.

They can diversify a lot of the risk away from their position just buy dollar cost averaging, which is why they are accumulating so much.

I do think that their bet is going to pay off big time over the long run - they're holding these coins for who knows how long, and are effectively reducing the supply of coins as well.

Since they are continuously accumulating bitcoin, it means, they have strong belief that bitcoin will have bright future. Because if they don't believe its potential, they won't accumulate more. It shows that this company is trusting their funds on btc investments. I guess, some companies are also doing the same strategy but not disclosing to the public.

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Quote from: cafucafucafu on September 16, 2021, 04:50:28 AM

I think that it is a completely rational strategy.

They can diversify a lot of the risk away from their position just buy dollar cost averaging, which is why they are accumulating so much.

I do think that their bet is going to pay off big time over the long run - they're holding these coins for who knows how long, and are effectively reducing the supply of coins as well.

Not just diversification but also prospects, I mean look at how them profiting from those bitcoins that they've bought back when bitcoin was still not this big, they were making profit at that time too so why wouldn't they get this opportunity?

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

I do believe that security that these companies have for their coins is huge. However I also believe that they have insurance for these type of things as well, meaning even if somehow they get their things stolen then they will be paid that much amount as well. Which could be even good for crypto, how?

Well, let's assume that they do get hacked and all of their coins get stolen, that means insurance will pay them that much and they will likely to use that to buy some more, which is awesome and I like that and it will increase the price of it, on the other hand the stolen coins would be a hard time to spend or sell as well which means it will not be dropping the price too much, or even if it ever did then it won't be all at once. So, this company getting hacked and all that money stolen could mean an increase in the price of bitcoin in the long run.

cafucafucafu

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I think that it is a completely rational strategy.

They can diversify a lot of the risk away from their position just buy dollar cost averaging, which is why they are accumulating so much.

I do think that their bet is going to pay off big time over the long run - they're holding these coins for who knows how long, and are effectively reducing the supply of coins as well.

Kong Hey Pakboy

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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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Quote from: Charles-Tim on September 13, 2021, 07:04:27 PM

~
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.

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.

TheGreatPython

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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.

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Quote from: GreatArkansas on September 13, 2021, 08:09:51 PM

Quote from: passwordnow on September 13, 2021, 08:05:28 PM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

What do you expect for BTC at the end of 2021?

Still bullish even if there will be upcoming and expected corrections.

For me, this time, breaking the $50,000 again will result in a new all-time-high, we are extremely near to the all-time-high for Bitcoin, with Bitcoin supply on exchanges keeps decreasing, I believe this is a good indicator that we will see more upside prices.

We will see and we don't know for sure. But for the moment that it's been on $45k and up, we're already assured and happy to see it staying there.
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.

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Quote from: Poker Player on September 15, 2021, 12:59:48 AM

Quote from: pooya87 on September 15, 2021, 12:40:55 AM

Quote from: mk4 on September 13, 2021, 11:45:02 PM

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?...

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Quote from: pooya87 on September 15, 2021, 12:40:55 AM

Quote from: mk4 on September 13, 2021, 11:45:02 PM

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.

pooya87

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Quote from: mk4 on September 13, 2021, 11:45:02 PM

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...

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: GuyFromBarcelona on September 14, 2021, 06:27:19 PM

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.

Fundamentals Of

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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.

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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.

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Quote from: TheUltraElite on September 14, 2021, 03:28:57 AM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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

Imran232

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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.

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Quote from: Dave1 on September 14, 2021, 12:15:20 AM

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?

Ararbermas

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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..

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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.

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Quote from: SFR10 on September 14, 2021, 02:46:04 AM

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.

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

Microsteel

Is this a mix between MicroStrategy and "balls of steel"?

SFR10

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Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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.}

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

What do you expect for BTC at the end of 2021?

I posted the following "prediction" back in June.

Quote from: GreatArkansas on September 13, 2021, 08:09:51 PM

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!

Dave1

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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.

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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.

mk4

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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.

FinneysTrueVision

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I don't have any idea what Microstrategy does and I often get their name confused with Microsoft, Micro Center, and other similarly named companies.

5050 is a lot of BTC. They bought it over a period of several weeks and their volume is still a small amount of Bitcoin's trading volume so we might not see an immediate impact. When they buy so much BTC it will create scarcity and over time I do think it will help the price reach an all time high.

yazher

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You own the pen

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

Microsteel 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?

Everyone in the crypto industry has their own way to invest and make a profit in the investment in bitcoin and I think they are one of those companies who will take the risk and hodl their bitcoins for another 10-20 years. I think they've been doing that since the price of BTC was low and they might sell some of their BTC whenever the price spike and buy when it goes down. It's just my mere speculation but whatever the reason is, they are helping the market right now.

tranthidung

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Farewell o_e_l_e_o

Willy Woo updated his chart for Bitcoin held by public entities.

Some websites to check bitcoin treasuries.

Buybitcoinworldwide.com (this website recently was not updated regularly. I don't know how its update is working now)
Bitcointreasuries.net.
- The team announced that they sold the Bitcointreasuries.org domain - that connects to Buybitcoinworldwide.com.
- Announcement
bybt.com
Bitcoin Treasuries (by @fillippone). It is a good follow-up topic about Bitcoin treasuries.

GreatArkansas

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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

Quote from: passwordnow on September 13, 2021, 08:05:28 PM

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

What do you expect for BTC at the end of 2021?

Still bullish even if there will be upcoming and expected corrections.

For me, this time, breaking the $50,000 again will result in a new all-time-high, we are extremely near to the all-time-high for Bitcoin, with Bitcoin supply on exchanges keeps decreasing, I believe this is a good indicator that we will see more upside prices.

passwordnow

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Well, that's funny when I've read the company's name although it's understandable what's with the news recently. I just remembered that name of my past employer that's close to that name but OP change the name of the company as corrected by Charles.

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

When they continuously buy Bitcoin in stages will it cause BTC to break ATH again?

Not that really but if they keep on doing that, they might influence a lot of people and big companies to do the same thing as what they do. They're leaving a question to those speculators that there seems to be something they know that others don't know and make them keep on buying.

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

What do you expect for BTC at the end of 2021?

Still bullish even if there will be upcoming and expected corrections.

thecodebear

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At this point their buys are expected so I don't think the market reacts to it. Market reacts to new things, not expected things. The first few times Microstrategy bought it was huge, now it's just normal. A new public company buying a few hundred million $ in Bitcoin would move the market. Surprised it hasn't happened lately but it'll happen soon enough. Probably won't happen until Bitcoin shoots up again. Noobs, no matter if they are new investors or CEOs and executive boards of trillion dollar companies, only know how to buy high when they first get in.

I like the accidental name change to Microsteel though haha.
Saylor should rename Microstrategy to Gigastrategy, cuz their Bitcoin strategy is blowing the rest of the corporate world away.

Charles-Tim

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It is Microstrategy not ~~Microsteel~~

Quote from: thayes09 on September 13, 2021, 06:58:11 PM

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?

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.

thayes09

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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?

Topic: Microsteel keeps buying into BTC (Read 483 times)