Community Is Divided Over New Bitcoin Purchase MicroStrategy

The software company MicroStrategy has managed to pull more Bitcoin out of the market again. In a recent tweet, CEO Michael Saylor said the company bought about 2,500 Bitcoin. In total, MicroStrategy now has 132,500 Bitcoin for which they paid over $4 billion.

Solid virtual loss

Unfortunately, they will not get that more than 4 billion dollars in return. At the time of writing, the Bitcoin in question is still worth about $2.1 billion. Despite that huge loss, MicroStrategy does not intend to deviate from the strategy. The company continues to buy Bitcoin quietly and still clearly believes in the future of the digital currency. On the other hand, it can’t go back at the moment.

If MicroStrategy chooses to sell now, the price will collapse and they will probably be done themselves. In that sense, it’s really all in right now and the entire future of Saylor’s business depends on the future of Bitcoin. Some members of the community call Saylor a “rock star” while others are less than thrilled with the publicly traded company’s director.

Not everyone is happy

The strange thing is that not everyone in the Bitcoin community is happy with Michael Saylor. The reason for that is that they believe that it is not a good thing for one entity to own so much Bitcoin. In the case of MicroStrategy, it is more than 132,500 Bitcoin, which is about 0.63 percent of all 21 million Bitcoin. If it continues like this, there is a chance that the company will one day own 1 percent of all Bitcoin.

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However, it still needs to buy quite a bit more for that. To achieve that, MicroStrategy still needs 77,500 Bitcoin. At current prices, you pay about $ 1.285 billion for that. It is unlikely that MicroStrategy will be able to pull that much capital out of the market in this state. On the other hand, crazier things have happened in the Bitcoin world.

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