Polkadot To The Moon?!
June 17, 2021Could Governments ban Bitcoin and Cryptocurrencies? Yes and No
June 18, 2021
His Bitcoin strategy may not work for you.Bitcoin image by Kredite from PixabayIf you have watched recent videos this year on Bitcoin, you may have come across Michael Saylor giving his advice on Bitcoin and the cryptocurrency market. Michael Saylor is the founder of MicroStrategy that has made large investments in Bitcoin since 2020.Michael Saylor is a latecomer to the cryptocurrency space but he is making a big impact as an investor. His company MicroStrategy owns about 91,579 Bitcoin valued at $3.45 Billion at the time of this writing.Chronologically, these are the moves MicroStrategy made buying Bitcoin since 2020.1. August 11, 2020. MicroStrategy CEO Michael Saylor announced that the Nasdaq-listed business intelligence firm was making a long-term investment of $250 million in Bitcoin.2. September 15, 2020. Saylor doubled down, adding another $175 million to MicroStrategy’s balance sheet. That $425 million bought MicroStrategy’s total to 38,250 BTC.3. February 17, 2021. Saylor revealed that MicroStrategy was selling $900 million in debt to buy more BTC. Bitcoin was at $49,600.4. March 1, 2021. MicroStrategy held 90,859 BTC which it purchased for about $2.2 billion.5. June 2021. MicroStrategy was selling $400 million in corporate bonds to buy more Bitcoin.“When Bitcoin hit a new all-time high of $61,683 later in the month, that investment was worth a jaw-dropping $5.6 billion. MicroStrategy was sitting on paper profits of $3.4 billion.”Michael Saylor was one of the recent Cryptocurrency investors that encourages other companies to invest as well. Saylor even encouraged Elon Musk to invest in the Cryptocurrency space.Tesla and MassMutual bought Bitcoin and added it to their balance sheet.“Michael Saylor’s decision to invest MicroStrategy’s treasury has paved the way for other corporate leaders to explore adding Bitcoin to their balance sheets,” said Diogo Mónica, co-founder and president of crypto custodian Anchorage.In multiple videos on YouTube, Michael Saylor…
