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: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • 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: Coinbase Confirms DOJ Investigation Following Major Security Incident

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

Trader, który przewidział wzrost XRP o 600%, typuje następnego memecoina poniżej 0,1 USD

Kiedy wartość XRP wzrosła o ponad 600% między końcem listopada 2024 r. a połową stycznia 2025 r. — przekraczając poziom...

newsbtc 1 hour ago

BNB upgrade triggert bullish patroon: koersdoel $719 in zicht

De BNB Smart Chains Maxwell upgrade ging maandag live. Volgens het BNB Chain team is het een technische sprong voorwaarts...

Lars Diederiksen 1 hour ago
Ethereum

Echoes Of 2020: Ethereum Signals Possible Bullish Rally After Reclaiming $2,600

Ethereum (ETH) has recently experienced a significant resurgence, reaching a three-week high of $2,600 after a notable spike on Wednesday....

Ronaldo Marquez 1 hour 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

Первый ETF на Solana запущен: начало бума альткоин-фондов?

lisachaikina 2 minutes ago

Capo Of Crypto Predicts Bitcoin Price Crash Below $100,000, Doom Call For Altcoins

Scott Matherson 27 minutes ago

Snorter代幣欲在Telegram上再創高峰 ICO募資突破150萬美元

estherw 46 minutes ago

Premium Sponsors

Press Releases

  • 1 Najlepsza kryptowaluta do kupienia przed wzrostem o...

    8 minutes ago
  • Trader Dự Đoán Đúng XRP Giờ Gọi Tên Meme Coin

    Trader Dự Đoán Đúng XRP Giờ Gọi Tên Meme Coin...

    1 hour ago
  • Các Đồng Coin Tiềm Năng: TOKEN6900 Gây Sốt, Gọi...

    1 hour ago
  • MEXC Ventures Champions India Blockchain Tour 2025, Ignites...

    1 hour ago
  • MEXC Amplifies Bitcoin Reserves by 10% While Maintaining...

    1 hour ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.