MicroStrategy, the business intelligence firm, has been buying Bitcoin since the first market dip happened back in the day. MicroStrategy is among those financial institutions which have their eyes fixated on cryptocurrencies such as Bitcoin for whenever its price plummets and the market rolls over so they could have a chance to grab as many tokens as they can.
MicroStrategy bought Bitcoin during the biggest correction the crypto market has ever seen, and the prices were in free fall, and it had also bought Bitcoin when China issued a crackdown against Bitcoin mining, and once again, Bitcoin lost a huge sum of its value.
In short, in any event, which leads to Bitcoin losing its value, the chances are that MicroStrategy has already bought that dip. MicroStrategy has recently reported a loss of about $700 million in their Bitcoin investment featuring Q2 2021, but they are still adamant about purchasing more whenever the opportunity would present itself. The loss taken in by MicroStrategy is only on paper, according to an insider’s report; even so, the company has made its mind to accumulate more Bitcoin in the upcoming months and to seriously refine its Bitcoin strategy.
MicroStrategy Lost $700 Million in Q2
Many say that Michael Saylor’s brainchild, MicroStrategy, has become one of the largest accumulators of Bitcoin as the firm tops at 105K coins at the moment. These are not accumulated over a period of years or even decades; this sum only corresponds to the accumulation done within a year. The firm has definitely made some handsome amount of money over their investment in the crypto sector, especially Bitcoin, but they have seen an impairment loss of $700 million in Q2 2021. Michael Saylor says that he’s pleased by the results of their crypto-based endeavours and the gains the firm has seen in such a short time. He says that they have 105K Bitcoins at the moment, and while moving forward, they intend to increase our capacity and the volume of the flagship cryptocurrency regardless of what the future holds for us. While on the topic, you must also know that firm has not sold even a single token all this time, and they’re still making waves to collect more.
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