MicroStrategy buys again BTC
Hi,
some will say this is bad for BTC and crypto, but I find it good, as microstrategy announced in the investor relations tab, that they've bought again some BTC.
Well, saying some is an understatement, as they've acquired 12333 $BTC. They paid 347 million USD for it.
With the new purchase, they are at 152333 $BTC in their wallets, which is over 4.5 billion USD worth. This is a lot of funds token from the market. Probably they will sell it at the right time, or use it as a collateral to develop their strategy even further.
Why I say that I find it good? Just because it brings traction to the market and takes liquidity out.
The more BTC is bought, the higher the value it increases. The more sold, the lower it gets. At base, it is the same, an exchange of means, but who is the initiator matters, and if there is a scarcity, the better for everyone else.
I think that with the additional buy, they make a statement, and also they see a change in the market. The amount is high, and it might be the signal that we wanted, of a market turn.
How do you see it?
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I think this is a good thing too. What is the argument for it being a bad thing? Just the fact that there is less BTC out there for the rest of us?
Its definitely a good thing for the scarcity of BTC. Looks like Mirco Strategy will not sell their stack anytime soon.
Its good for the Bitcoin, but in my oppinion bad for the shareholders of Microstrategy. If the CEO has nothing better to do with the money of the company he should be fired and replaced by someone who uses the ressources in an efficient way instead of gambling.
This is the big difference between investing as a private investor or hedge fund, or as a company with a clear purpose.