NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Grayscale CEO Quips About Bitcoin Buying Race With MicroStrategy

Samuel Wan
Samuel Wan
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Michael Saylor, the Founder of MicroStrategy, said, so far, he has spent a total of $425 million buying Bitcoin.

In a recent tweet, Saylor mentioned his firm had just purchased approximately 17k BTC. Including previous the purchase of 21k tokens, the firm now holds around 38k BTC in total.

“On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.“

As a business intelligence software firm, MicroStrategy is not normally associated with cryptocurrency. But last month, the company revealed its revised treasury strategy to weather the uncertain economic conditions.

In a press statement, the company spoke about the downfalls of holding cash during these times. To which, they believe holding BTC, over cash, represents a better bet for the company as a going concern.

“This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash… MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.”

The news brought a boost to cryptocurrency advocates, who have long suffered accusations that Bitcoin is a Ponzi scheme.

As a NASDAQ listed firm, MicroStrategy’s foray does add an air of legitimacy to Bitcoin. However, some observers have criticized the move, especially considering Bitcoin’s failure to close above the critical $12k level.

Bitcoin daily chart

Bitcoin daily chart with volume. (Source: tradingview.com)

Bitcoin as a Hedge? Not Every Shareholder is Convinced

As much as this is a boost for Bitcoin in terms of legitimacy, some have suggested MicroStrategy’s approach of going BTC heavy is the wrong thing to do.

One Twitter user pointed out that this leaves the company seriously cash deficient. What’s more, with on-going expenses, that require paying in dollars, it was a move that made little sense.

https://twitter.com/UncleJack123/status/1305878669441855489

On top of this, based on Saylor’s figures, the average net cost of his BTC purchases come to $11,111. And while the price of Bitcoin remains below that level, Saylor’s strategy will continue to draw flak.

Nonetheless, open institutional interest in Bitcoin still brings welcome relief to a space that struggles with scam accusations.

So much so, Barry Silbert, the CEO of Digital Currency Group, who own Grayscale, joked that this is the start of a “buying race” between the two firms.

https://twitter.com/barrysilbert/status/1305853253884825600

Grayscale recently hit the headlines off the back of reports the firm is buying up more Bitcoin than the mining output rate.

Analysis of the situation showed that their BTC purchases were significant. But the reported “in-flows” came from “old-Bitcoin” sent by hedge funds.

Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

ada-price-holds-0-80-snorter-presale-surges-2025-surprise-tw

ADA今日價格守住0.80美元關鍵支撐 Snorter預售爆紅成2025最大驚喜?

在萬物皆跌的加密世界裡,ADA試圖守住0.80美元的支撐,這不是一次技術上的死撐,而是信念與市場心理之間的拉鋸。自從跌破1美元後,Cardano被許多人貼上了過氣公鏈的標籤,即便它曾在牛市頂峰站上3....

Kelvin Lee 3 hours ago
Solana SOL SOLUSD

Solana Price Tightens Near $200 While Adoption and Treasuries Challenge Bitcoin

Solana (SOL) has entered a crucial zone as the price tightens near the $200 support level. The recent pullback in...

James Halver 3 hours ago
bitcoin

Bitcoin Market Sees Over 73,000 BTC Influx Into Wallets Younger Than 1 Month – Is A Rally Near?

As Bitcoin (BTC) continues to trade in the low $110,000 range, on-chain data shows that a fresh wave of demand...

Ash Tiwari 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana

Solana DATs Arrive In Australia: Fitell Corporation Announces $100M SOL Treasury Strategy

Rubmar Garcia 1 hour ago
Bitcoin

Bitcoin Dip-Buy Calls Spike: Why This Could Actually Be Bearish

Keshav Verma 2 hours ago
Bitcoin Price Struggles Under Resistance

Bitcoin Price Struggles Under Resistance – Will Bulls Fail and Bears Take Control?

Aayush Jindal 3 hours ago

Premium Sponsors

Press Releases

  • Az altcoin szezon itt van. Ez a három tényező hajthatja a bikapiacot

    Az altcoin szezon itt van. Ez a három tényező hajthatja...

    8 hours ago
  • Sezon na altcoiny już tu jest. Te trzy czynniki mogą napędzać hossę

    Sezon na altcoiny już tu jest. Te trzy czynniki mogą...

    10 hours ago
  • Sezonul altcoin este aici. Acești trei factori sunt văzuți ca motoare ale raliului

    Sezonul altcoin este aici. Acești trei factori sunt...

    13 hours ago
  • ドージコイン 今後の価格予測:ウォールストリートが注目する「1ドル圏」への道

    ドージコイン...

    15 hours ago
  • Сезонът на алткойните е тук. Три фактора се очаква да задвижат ралито

    Сезонът на алткойните е тук. Три...

    15 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.