As per data, Bitcoin’s price has gained 3.81% growth and it currently sits at $30,319.22. Despite the recent surge, investors still have huge ambiguity and uncertainty about Bitcoin.
Bitcoin’s Position is Still Unclear
Despite the elevation, things are still in the dark for Bitcoin. Most investors are still unsure of what the situation of Bitcoin will be in near future. When it comes to the value of Bitcoin, one of its boosting factors is institutional input
By 2020, many institutions have made huge investments in Bitcoin. The process of Bitcoin acquisition by the mainstream institutions started with MicroStrategy and other major tech firms.
Throughout the process, they continued investing billions in Bitcoin and their accumulations have continued growing larger. From the mid of 2021, things started moving south for Bitcoin.
In this dire situation, investors are looking at how institutional investors would act. While the individual investors do acquire a lot of Bitcoin, it is the institutions whose investments are in large batches worth several billion.
MicroStrategy’s Contribution to Bitcoin’s Growth
While the majority of the individual investors are losing their faith in Bitcoin, it is institutional investors such as MicroStrategy that are acting as beacons of hope.
From the time of the first dip in 2020 until now, MicroStrategy has been on the forefront. Ever since it partook in the Bitcoin marathon, it hasn’t shown any deviation from its ambition.
MicroStrategy’s CEO, Michael J. Saylor is the main protagonist in compelling the board of directors to sail the Bitcoin ship. Starting from August of 2020, MicroStrategy has continued accumulating Bitcoin. It has continued accumulating Bitcoin despite the rise and fall.
On several occasions, MicroStrategy accumulated a large volume of Bitcoin when it encountered a dip. MicroStrategy’s input has always brought Bitcoin out of the troubling times.
MicroStrategy Has Cleared the Dust
Now, as the price of Bitcoin ended up hitting its 2-year low, many analysts and market observers wanted to learn about MicroStrategy’s decision. While many observers thought MicroStrategy would change its strategy due to the current circumstances, surprisingly, it hasn’t.
MicroStrategy is still going with the same strategy and plans on adding more to its portfolio. Even Michael J. Saylor has spoken in favor of Bitcoin and considers it another depression for Bitcoin.
As per him, Bitcoin is against facing the same trend as it did back in early 2018. It is only a matter of time before Bitcoin resurfaces again and takes the market by storm.
So far, MicroStrategy has invested $3.97 billion in Bitcoin, and their total worth at present is $5.89 billion. The figures suggest that on average, MicroStrategy has acquired each Bitcoin for $30,700.
MicroStrategy’s confirmation to keep holding onto their Bitcoin is a positive sign for the investors. Their statement would definitely play a huge (positive) role in boosting the price of Bitcoin in near future.