The foretelling events that speak for itselfThe cryptocurrency industry is currently going through a wild ride at the close of 2020 and continuing through the start of the year 2021, with some leading coins reaching all-time highs or ATHs.Bitcoin, the world\u2019s first cryptocurrency with a value of less than $4,000 last March 2020 at the start of the pandemic, had just blasted through $34,000 as of this writing. This, not to say, is without the drama of shoot-ups and nosedives that marked the volatility of digital currencies.Ethereum was wallowing to just $91 back in December of 2018 to bounce back to more than $450 by December 0f 2020. Now it is flying high after hitting $1,000 for the first time.First HappeningCryptocurrencies, in general, are having a hard time being accepted into the mainstream. When other countries are warmly embracing them, others have outright banned them. in the US, however, a stream of institutional investors and fintech companies began flocking to Bitcoin.As of December 21, 2020, MicroStrategy, a business intelligence company, holds an aggregate of approximately 70,470 bitcoins, which were acquired at an aggregate purchase price of approximately $1.125 billion and an average purchase price of approximately $15,964 per bitcoin.\u201cThe Company continues to operate in accordance with its Treasury Reserve Policy and currently holds approximately 70,470 bitcoins,\u201d said Michael J. Saylor, CEO, MicroStrategy Incorporated.\u201cThe acquisition of additional bitcoins announced today reaffirms our belief that bitcoin, as the world\u2019s most widely-adopted cryptocurrency, is a dependable store of value. We believe the proactive management of our balance sheet, combined with the improved revenue and profitability performance of the Company, have been significant factors in the recent appreciation in our stock price.\u201dOn October 8, 2020, Square, Inc., announced that it has purchased approximately 4,709 bitcoins at an aggregate purchase price of $50 million. Square\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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