Cryptocurrency is evolving at a tremendous pace. Some prominent cryptocurrencies like bitcoin, ethereum, Litecoin, Binance coin, etc., are getting tremendous popularity in the global marketplace. The market cap of the entire cryptocurrency industry recently surpassed the value of $2 trillion. Bitcoin contributes almost 48% to the cryptocurrency marketplace. Therefore, Bitcoin is the leading cryptocurrency with the maximum market cap and trading volume.
Almost every multinational company such as Apple, Microsoft consumed a great deal of time to halt the market cap of $1 trillion. However, bitcoin halted the market cap of $1 trillion in just nine years.
The store value of bitcoin is continuing to grow due to ample robust reasons. One of the primary reasons is the institutional involvement of bitcoin. You check out bitcoin evolution website see some profitable results from different traders. You are familiar that several companies have converted a considerable amount of their balance sheet to bitcoin.
Recently Micro strategy, the public, leading holder of bitcoin, invested $400 million in bitcoin. After investing a sum of $400 billion, Micro strategy reinvested almost $243 million on the 13th of September. Below mentioned is everything you should know about the recent investment of Micro strategy in bitcoin. So without wasting any further ado, let’s have a look.
Leading Public Holder of Bitcoin
Some ample organizations and companies are publicly holding a considerable amount of bitcoin. Every time these companies invest any possible amount in bitcoin, they publically make an announcement. The prominent reason behind this is that announcing a publicly considerable investment will motivate another crypto enthusiast to invest in bitcoin.
Such progression can increase the store value of bitcoin. Some of the leading public holders of bitcoin are Square, Tesla Motors, Micro Strategy, and Galaxy trading.
The micro strategy currently is the leading public holder of bitcoin, whereas tesla motors and strategy emulates micro strategy on numbers two and three, respectively, on this list.
Tesla Motors, led by Elon Musk, has invested a considerable amount in bitcoin units. However, the total amount of hold which tesla motors have converted in bitcoin so far is $1.5 billion and has not sold any bitcoin unit. So undeniably, Elon Musk's tweet did affect the market value or store value of bitcoin and other digital currency, but Tesla motors did not sell any bitcoin unit.
Micro Strategy, led by Michael Saylor, is currently the number one public holder of bitcoin. The fact might amaze you that Michael Saylor currently holds bitcoin units worth $5 billion. However, the amount which Michael Saylor invested in buying bitcoin units is a mere $3 billion. So, in a nutshell, micro strategy has acquired a profit of almost $2 billion in just one year.
The organization started to invest money in bitcoin in the first instance of Aug 2020 and got higher profits. Recently Michael Saylor tweeted that companies have bought 5050 bitcoin units. The company bought bitcoin units at an average price of $48,099, and it currently holds 114,042 bitcoin units. Yes, you read it right. As per the investment of Michael Saylor, the average price of a single bitcoin unit in his investment is just $27,713
Why Did Micro strategy Such a Huge Amount in Bitcoin?
Micro strategy is holding the maximum number of bitcoin units publically. Despite a cryptocurrency market crash, the company has invested a considerable amount of funds in bitcoin. You are familiar with the fact that the bitcoin market crash decreased the value to an exceeding extent. Regardless of a massive downfall in the price of bitcoin, micro strategy is still holding bitcoin units. All the more, this company has invested more funds in bitcoin, but why?
Bitcoin has offered an enormous return to bitcoin investors, especially the leading public holder of bitcoin. Therefore, all the more micros strategies have always been optimistic regarding the bullish market of bitcoin.
As per a few rich sources, this company expects a significant surge in bitcoin's store value in the upcoming time. In a tweet, Michael Saylor stated that their strategy is a long bitcoin long-term, leveraged intelligently. When Elon musk trolled Michael Saylor by addressing him as a Bitcoin Maxi, he replied savagely.
The portion mentioned above is everything you should know about the recent investment in bitcoin.