Entities I Control Have Now Acquired 111,000 Bitcoin, Says Michael Saylor

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, the world’s most valuable digital currency, saw its worst sell-off in 2021 yesterday after the price of BTC dropped by nearly 35% within 24 hours. Crypto influencers remained vocal during the market crash and asked investors to keep their calm.

Michael Saylor, a well-known American entrepreneur and CEO of MicroStrategy, announced yesterday that the entities under his control are now holding approximately 111,000 Bitcoin. The world’s largest cryptocurrency is currently trading near $40,000, up nearly 30% from the low of $30,000 on 19 May.

“Entities I control have now acquired 111,000 Bitcoin and have not sold a single satoshi, BTC forever,” Saylor tweeted. Earlier this week, MicroStrategy expanded its BTC portfolio with the purchase of 229 Bitcoin at an average price of $43,663. The company now has more than 92,000 BTC.

MicroStrategy is one of the largest institutional holders of Bitcoin. The business intelligence firm accelerated its BTC accumulation since the start of 2021. In February 2021, the company bought 19,452 BTC for more than $1 billion in cash at an average price of approximately $52,765 per Bitcoin. MicroStrategy is a Nasdaq-listed company (MSTR). The stock price of the firm has increased nearly 100% in the last 6 months.

Bitcoin Correction

The latest dip in the price of Bitcoin triggered a massive sell-off in Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Read this Term. Ethereum crashed as much as 40% yesterday and touched a low of nearly $2,000. Elon Musk’s recent tweets and China’s latest announcement about the crypto crackdown played a major role in the cryptocurrency market crash. During an interview with Bloomberg, Brian Brooks, former acting comptroller of the currency at the US OCC , said that investors misunderstood China’s announcement.

“One of the reasons Bitcoin is down is people's interpretation of the Chinese government being believed to have said 'we're basically banning crypto', nobody is going to ban crypto, it's a $2 trillion dollar asset class,” Brooks said.

Bitcoin's crypto market dominance increased during the latest recovery. BTC now accounts for approximately 44% of the total market cap of digital currencies.