Microstrategy’s co-founder Michael Saylor in his tweets about his company said, “MicroStrategy acquiring additional 12,333 Bitcoins (BTC) for $347 Million at an average price of $28,136 per BTC.”
He added “As of June 27,2023 MicroStrategy held 152,333 BTC worth $4.52 Billion at an average price of $29,668 per bitcoin.”
MicroStrategy has acquired an additional 12,333 BTC for ~$347.0 million at an average price of $28,136 per #bitcoin. As of 6/27/23 @MicroStrategy hodls 152,333 $BTC acquired for ~$4.52 billion at an average price of $29,668 per bitcoin. $MSTR https://t.co/joHo1gEnR0
— Michael Saylor⚡️ (@saylor) June 28, 2023
Saylor is an American entrepreneur, inventor, author and a philanthropist who has been connected with Microstrategy for a long time. From 1989 till 2022 he has served as a Chief Executive Officer for the company.
MicroStrategy is located in Vienna, Virginia, United States with around 5,000 employees in the company. According to CrunchBase, Microstrategy is at a post of ‘IPO Equity’.
MicroStrategy Stocks and it’s History
The company’s stocks are registered on NASDAQ as MSTR with a total funding amount of $2.5 Billion in five funding rounds. The last funding was from a Post-IPO Equity round on Feb 17,2023. Their stock opened with $12.00 in its Jun 11, 1998 IPO.
Silvergate Bank was funding MicroStrategy, but on March 08, 2023 it announced that it was winding up operations and soon will liquidate. The Bank was also the lead investor in the company with Alan J. Lane as partner (Signature Bank’s CEO).
Saylor’s company last bought Bitcoins back in 2020 as a hedge against inflation just when COVID-19’s lockdown went, shutting down companies in every sector worldwide. It seemed a positive investment in the company’s point of view for the year ahead as Bitcoin went on a historic bull run.
As per the data from Yahoo Finance, on Feb 17, 2023 the market for Bitcoin (BTC) opened at $23,621.28 and closed at $24,565.60. The high and low of that day were $24,924.04 and $23,460.76 respectively. BTC volume after the day’s trade was $41,358,451,255.
As per the same data source, on June 28, 2023, BTC market opened at $30,675.46 and closed at $30,170.36. The highs and lows recorded for today were $30,675.46 and $30,674.61, respectively. Today, BTC’s trade volume recorded was $15,983,720,448.
Predictions about Rise in BTC’s Price
Jerome Powell, US Federal Reserve Chairman, recently remarked on the Central Bank’s approach to its Monetary policy in the context of traders expecting another hike in interest rates. in the July meeting. The July 26 meeting of the Federal Open Market Committee (FOMC) will disclose the change in rate.
According to the CME FedWatch Tool, 81.8% of the respondents showed confidence in a rate hike. It acts as a barometer for market players to measure the market’s anticipation of potential changes to the Fed rate while evaluating its movement around FOMC meetings.
The possible warning indicated a strong possibility of two more rate hikes before the end of 2023. Meanwhile, Bitcoin price jumped slightly, whereas the S&P 500 Index dropped in near about the same ratio.
Santander, Spain’s largest bank, recently revealed the start of a Digital Assets 101 series for prospective investors and customers.
Spain’s largest bank @BancoSantander estimates the #Lightning⚡️ network is capable of processing millions of transactions per second (100x more than VISA).https://t.co/dmGZagmlbi
— Michael Saylor⚡️ (@saylor) June 26, 2023
Santander’s report estimates that this network can easily handle over a million transactions per second, compared to 20,000 per second for traditional card payment networks like VISA.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/06/29/mega-purchase-of-btcs-by-microstrategy-may-boost-btc-price/