Michael Saylor, the CEO of microstrategy, a big time bitcoin Maximalist just acquired more bitcoin. The bitcoin maximalist support and love for bitcoin has doubled over the past month. Through a tweet made by Michael Saylor, he announced that the company has purchased more bitcoin. The quantity of extra bitcoin purchased were 3,907 worth roughly $177 million. The price in which the bitcoin was bought was at an average price of $45,294. This has greatly increased the total number of bitcoin held by a single company. The total number of bitcoin held by microstrategy is 108,992.
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That is a lot of bitcoin held by a company and that’s a lot of power. I’m sure lots of silent people also hold large quantities of bitcoin. Tesla is known for owning a lot of bitcoin as well, the company bought $1.5 billion worth of bitcoin earlier on, Elon Musk also publicly admitted that he personally own bitcoin, which quantity he didn’t disclose. Jack Dorsey also has a good amount of bitcoin. Let me remind you that the total quantity of bitcoin is 21 million, with over 30% of the quantity out of circulation. Which makes the asset very scarce, the more the whales are buying it up, the more influence they will have over bitcoin and the people. This will enable the whales manipulate the market more.
I love bitcoin but am not entirely bullish on the crypto, am bullish on other Altcoin assets. I just wish for a time where the progress of other altcoins are not affected by the progress of bitcoin.