MicroStrategy strengthens its Bitcoin game, invests addition $50M in BTC

Daltonik

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The head of MicroStrategy, Michael Saylor, tweets that the Bitcoin Mining Council (BMC), an organization that unites bitcoin miners, has started working. The organization is open to all industry participants who want to share energy consumption and hashrate indicators for research and educational purposes. https://bitcoinminingcouncil.com/

BMC membership is free. During the first year of operation, all expenses related to the organization's activities will be borne by its founders, including Argo Blockchain, Marathon Digital Holdings, Galaxy Digital, MicroStrategy and others.

The group will transfer the excess funding to bitcoin developers. https://twitter.com/michael_saylor/status/1403015731701297165

Quote from: https://twitter.com/michael_saylor/status/1403015731701297165

Daltonik

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Quote from: Wind_FURY on December 11, 2020, 04:49:33 AM

I believe billionaires will shake out the WEAK hands as fast as possible, THEN they buy the dip. What would that make us the plebs? Stupid, that's what.

Bitcoin is currently under a simple process of transferring from weak hands to the strong hands of the billionaires. Don't give them what they want, your Bitcoin. HODL!

Yes, you are right, of course, given the fact that the experiment at the Massachusetts Institute of Technology showed that even seemingly technically trained people who are students of advanced disciplines are not very responsible about cryptocurrency, according to a bloomberg publication, students who participated in the bitcoin study spent the cryptocurrency issued to them on textbooks and food. and as a result, they missed out on 13,000% of the profit. More than 3,100 students joined the study, but in the first month, 40% of them converted cryptocurrency into fiat. Two years later, only 14% of the total number of participants in the experiment used bitcoin for purchases and other transactions. Only a few of the participants left the coins in their wallets, waiting for their value to grow further. https://www.bloomberg.com/news/articles/2021-06-04/bitcoin-btc-mit-experiment-nets-13-000-gain-for-students-who-held-on

Wind_FURY

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Quote from: hd49728 on December 10, 2020, 11:05:13 PM

Investment means they (institutes and their clients) will cash out and take profit some days. We don't know when they will do this but they will. As big institutes with big capital they are wise enough to not cash out in a day a some continuous days to make price crashes. They will try to move their capital and bitcoin slowly as slow and silent as possible.

If they are inspired other institutes and retail investors, they can make them panic and shake hands. Two opposite things MicroStrategy and other institutes can do.

I believe billionaires will shake out the WEAK hands as fast as possible, THEN they buy the dip. What would that make us the plebs? Stupid, that's what.

Bitcoin is currently under a simple process of transferring from weak hands to the strong hands of the billionaires. Don't give them what they want, your Bitcoin. HODL!

hd49728

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Not your keys, not your coins!

Investment means they (institutes and their clients) will cash out and take profit some days. We don't know when they will do this but they will. As big institutes with big capital they are wise enough to not cash out in a day a some continuous days to make price crashes. They will try to move their capital and bitcoin slowly as slow and silent as possible.

If they are inspired other institutes and retail investors, they can make them panic and shake hands. Two opposite things MicroStrategy and other institutes can do.

bbc.reporter

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If Michael Saylor was not a billionaire, he might be like this bitcoin newbie who is loaning cash with his credit card, taking personal banking loans and asking friends and family for cash to gamble on bitcoin hehehe.

Business intelligence software company MicroStrategy has announced it is offering $550 million worth of convertible senior notes and intends to use the net proceeds to buy bitcoin.

Source https://www.theblockcrypto.com/linked/87120/microstrategy-550m-convertible-notes-bitcoin

LogitechMouse

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I know that this kind of news that is being released on the internet will make the investors happy therefore, they will try to buy some Bitcoins even its price is at its peak.
Is this news makes me happy? Hmmmm yes but not that much.

We are already seeing a parabolic rise that is being caused by these institutions buying huge chunks of Bitcoin. You might see this as a positive and yes I might agree until they will decide to dump the Bitcoins and take profit from it and when they are doing it, investors will be disappointed and will feel regret.

At the time of posting this, the price of Bitcoin is around $18,300 already. Is this the start of these institutions taking profit already?? I don't know it might be Cheesy

.

bbc.reporter

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Quote from: Tushar Ramani on December 07, 2020, 11:10:53 PM

These investment firms will bleed BTC price like hell. Once they see preset gains, they are gonna dump it.

Agreed. Microstrategy might also be forced by shareholders to dump and reduce its exposure on bitcoin because investment banks will begin downgrading the company, similar to what Citibank did.

Citi has downgraded MicroStrategy’s stock today from “neutral” to “sell,” citing the company’s recent investments in Bitcoin as a major factor.

MicroStrategy, once a somewhat obscure business intelligence software firm, poured $250 million into Bitcoin this past August, and another $175 million in September, in deals brokered by Coinbase. Just last week, the company purchased another $50 million. In a press release yesterday, MicroStrategy revealed plans to sell $400 million in debt securities as a way to buy up more Bitcoin.

Source https://decrypt.co/50798/citi-downgrades-microstrategy-bitcoin

Sadlife

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For a business intelligent firm they should consider investing Bitcoin intelligently, whales are selling causing a drop of the Bitcoin price because they've bought from the bottom, and with institutional investors and companies coming surging the price. They would be dumping the price to re-enter the markets once more.
I hope that institution's doesn't get discourage by this sell off.

wxa7115

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Quote from: ?? on ??

Many companies invest in bitcoin, just don't talk about it openly. Think of all the whale transactions, it's all for a reason.

True, but I think that with this more and more institutional investors will begin to be open about this, obviously they are doing this in order for even more institutional investors to come to the market but this is going to play to our advantage as more normal people begin to realize that bitcoin is not this crazy idea that just a bunch of people support, they will see this as a sign that this is a legitimate project that deserves attention and since they are not going to have money to invest in it they are going to do the next best thing they can, which is to accept payments in bitcoin.

Which is what most of us are expecting, while a high price for bitcoin is nice at the same time what I want the most is to be able to use my bitcoin in most business around the place where I live and this could be the beginning of a major trend in that direction.

fiulpro

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Quote from: BitcoinW0rld on December 05, 2020, 12:41:39 PM

In a recent Twitter post on 5th December, MicroStrategy announced a purchase of additional 2,574 Bitcoin worth $50 million. Michael Saylor, Founder and CEO of MicroStrategy, confirmed the purchase. With Bitcoin surpassing its ATH previously, this news does not come as a surprise. MicroStrategy is a business intelligence firm based out of the United States. It has continuously shown a bullish attitude towards the crypto king, Bitcoin.

For more detail article link is given below :-

https://bitcoinworld.co.in/microstrategy-strengthens-its-bitcoin-game-invests-addition-50m-in-btc/

The reason is very clear :
They did this because the price is climbing so by doing this they can not only make a lot of profit but at the same time they can manipulate the market , the people who follow them would take this as a fact that the price of bitcoins is going to rise because 50 M is a lot. Now they will buy more and thus the chain continues.

But the good thing is they made this announcement publicly, instead of just doing it in the darkness like any other company.

Now the bad thing is , if they do have a lot of bitcoins they can very easily influence the market price which could be problematic for us in the long run. I saw the article but instead of 50, they are planning on 400M raise!!!

https://cointelegraph.com/news/microstrategy-will-issue-400-million-in-securities-to-buy-more-bitcoin

They are going to actually issue 400 M in security and then buy more bitcoins with it...

avikz

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Quote from: BitcoinW0rld on December 05, 2020, 12:41:39 PM

In a recent Twitter post on 5th December, MicroStrategy announced a purchase of additional 2,574 Bitcoin worth $50 million. Michael Saylor, Founder and CEO of MicroStrategy, confirmed the purchase. With Bitcoin surpassing its ATH previously, this news does not come as a surprise. MicroStrategy is a business intelligence firm based out of the United States. It has continuously shown a bullish attitude towards the crypto king, Bitcoin.

For more detail article link is given below :-

https://bitcoinworld.co.in/microstrategy-strengthens-its-bitcoin-game-invests-addition-50m-in-btc/

If I am not mistaken, this is the 3rd phase of purchasing bitcoin for them! Microstrategy is taking a huge risk as they are pouring a lot of money into bitcoin! It can either fetch them a lot of profit or can land them in a mess! Time will tell what would that be! But considering the volatility, it's a huge risk for an organization!

But such kind of purchase will certainly strengthen the bitcoin ecosystem as more liquidity will flow into it! Good for us!

Poker Player

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That news is very good, the only thing that has not had the impact it had the first time. Let's see if more companies continue to join and give the push that bitcoin needs to overcome the 20k barrier. Once the FOMO is over, individuals will start buying bitcoin en masse.

mk4

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Quote from: Lorence.xD on December 08, 2020, 12:00:46 AM

If we let them buy more, there will soon come to a point where MS will become a monopoly. Hopefully, other institution join the fray and promote a healthy competition among whales which is beneficial for individual hodlers.

What do you propose then? Stop them from buying bitcoin? Lol. Not to mention that 40,000 BTC(if I remember correctly) is hardly a "monopoly" considering the total supply.

Lorence.xD

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Quote from: Oshosondy on December 05, 2020, 01:27:48 PM

The institutions are the new whales that have supported bitcoin now, I would not surprise the bitcoin price has not fallen beyond what we can think, the price yet at $19000 up till now, it is just because of the institutional whales. The retailer whales are selling bitcoin while the institutional whales are buying it in a way the price of bitcoin has not fallen in such a way that can result to price crash. MicroStrategy is part of the institutional whales and I still expect them to buy more bitcoin.

If we let them buy more, there will soon come to a point where MS will become a monopoly. Hopefully, other institution join the fray and promote a healthy competition among whales which is beneficial for individual hodlers.

Tushar Ramani

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These investment firms will bleed BTC price like hell. Once they see preset gains, they are gonna dump it.

verita1

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MicroStrategy CEO Michael Saylor will be speaking with Binance CEO on Tuesday with the intention of attracting new Bitcoin investors. Michael Saylor has a vision to make Bitcoin a widely adopted monetary network to empower people and also accepted in the political arena. IMO is not only to obtain capital with Bitcoin but to give it the use with which a greater usability was created at the beginning than we know.

https://twitter.com/michael_saylor/status/1334958046355841034?s=19

Obi theo

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In summary ,I think it just shows how much bitcoin is affecting the market , the firm I think looked into the price rally of bitcoin ,from that link I won't really call them a new whales ,because he said the bought extra BTC worth 50 million, it means the institutions has be in crypto and it loving it , so they aquired more bitcoin ...
It a great step in increasing the trust in bitcoin.

Oshosondy

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The institutions are the new whales that have supported bitcoin now, I would not surprise the bitcoin price has not fallen beyond what we can think, the price yet at $19000 up till now, it is just because of the institutional whales. The retailer whales are selling bitcoin while the institutional whales are buying it in a way the price of bitcoin has not fallen in such a way that can result to price crash. MicroStrategy is part of the institutional whales and I still expect them to buy more bitcoin.

BitcoinW0rld

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In a recent Twitter post on 5th December, MicroStrategy announced a purchase of additional 2,574 Bitcoin worth $50 million. Michael Saylor, Founder and CEO of MicroStrategy, confirmed the purchase. With Bitcoin surpassing its ATH previously, this news does not come as a surprise. MicroStrategy is a business intelligence firm based out of the United States. It has continuously shown a bullish attitude towards the crypto king, Bitcoin.

For more detail article link is given below :-

https://bitcoinworld.co.in/microstrategy-strengthens-its-bitcoin-game-invests-addition-50m-in-btc/

Topic: MicroStrategy strengthens its Bitcoin game, invests addition $50M in BTC (Read 331 times)