CRYPTO NEWS:
Michael Saylor, the co-founder of MicroStrategy, has been a prominent advocate for Bitcoin investment. In 2020, he led the company to invest heavily in Bitcoin, acquiring approximately 446,400 BTC for around $27.9 billion. This strategy has significantly influenced MicroStrategy's stock performance, with the company's market capitalization increasing nearly double the value of its Bitcoin holdings.
Recently, Saylor announced the purchase of 20,356 BTC at a price of $97,514 per Bitcoin, totaling approximately $2 billion. Despite this substantial investment, the Bitcoin market has experienced a downturn, with the price moving downward rather than upward. This raises questions about the impact of such large purchases on market prices and whether these transactions occurred over-the-counter (OTC) to avoid market disruption.
As of now, Bitcoin (BTC) is trading at $83,837.00, reflecting a decrease of 2.00% from the previous close.
Ethereum (ETH) is currently priced at $2,216.13, down 4.51% from the previous close.
Binance-Peg Solana (SOL) is trading at $145.67, showing an increase of 3.99% from the previous close.
The cryptocurrency market remains volatile, and large-scale investments continue to influence market dynamics.