Michael Saylor, CEO of MicroStrategy has revealed that entities under his control hold a total of 111,000 Bitcoin and none of them have sold a single Satoshi on a day when Bitcoin price fell to a new 3-moths low of $30,681 wiping off more than $1 billion from MicroStrategy’s Bitcoin holding profits.
Entities I control have now acquired 111,000 #BTC and have not sold a single satoshi. #Bitcoin Forever.
— Michael Saylor (@michael_saylor) May 19, 2021
Saylor has become a prominent figure in the Bitcoin community not just because his company has bought over $2 billion in Bitcoin, but the fact that he understands the functioning of BTC and what role it would play in the future of finance. Even when the likes of Elon Musk have left the boat within a quarter of buying $1.5 billion worth of BTC, Saylor continues to stay firm on his stance of holding Bitcoin for as long as it takes.
Trending Stories
MicroStrategy was among the first institutions to buy Bitcoin on their balance sheet and is often credited for pioneering the use of Bitcoin as a treasury hedge. They started buying Bitcoin at the end of August last year when BTC was trading just above $10,000 and they haven’t stopped since then, making purchases in cash as well as credit in the form of the company’s senior convertible notes.
I'm not selling. https://t.co/bhpdCuSy4D
— Michael Saylor (@michael_saylor) May 19, 2021
Bitcoin Market Losses $500 Billion Plus in 24-Hours
The China crypto ban was seen as the trigger that started panic selling among short-term holders, but the market sell-off intensified today leading to more than $500 billion getting wiped out of the crypto market on a red day. The massive correction lead to heavy traffic on all the exchanges and nearly all of them failed to handle the surge as Binance, Coinbase, Huobi, and even Coinmarketcap went down for a brief period of time.
The crypto market has started to show signs of recovery as BTC strengthened its position above $35,000 after falling to near $30,000. Ether on the other hand has also topped $2,500 after losing 50% of its market from its ATH of $4,372 registered 8 days back.
- Institutional Traders Are Shorting Bitcoin At Record Pace, Here’s Why
- Lido Shut Down Terra Support, Starts bLUNA And stLUNA Withdrawal
- This Whale Adds 787 More Bitcoins As Price Struggles
- After Vauld Suspends Withdrawals, These Crypto Exchanges Could Be Next
- Cardano’s Vasil Upgrade Goes Live On Testnet; When Will It Be Lauching On Mainnet?
- How Stable Is Tether? Data Shows USDT At Massive Liquidity Imbalance
- As BTC Plummets to $19,000, Elon Musk’s Tesla Reports $440 Million Impairment Losses
- British Army Regains Control Of Their Hacked Social Media Accounts Promoting Crypto Scams
- Bitcoin Miners Likely Behind Crash Below $19K, Here’s Why
- India’s Crypto Exchanges In Trouble? 1% Tax Keeps Traders Away
- Cardano price Analysis: ADA Price Nearing Triangle Breakout Eyes $0.655
- Polygon Price Analysis: $0.45 Fallout could Plummet MATIC price by 25%
- ETH Price Analysis: Can $1000 Support Undermine Selling Momentum?
- BTC Price Analysis: Technical Indicator hints Upcoming recovery for Bitcoin
- CRV Price Analysis: Buyers Prepare To Boost CRV Prices To $1
- DOGE Price Analysis: Pullback Opportunity Eyes its Next Jump to $0.1
- Sandbox Price Analysis: Emerging Pattern May Soar SAND price by 20%
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
