NASDAQ giant buys (again) $10 million from BTC

He’s betting it all on Bitcoin – NASDAQ giant buys (again) $10 million from BTC

When the Wolf Starves (from BTC) – This week, MicroStrategy filed a new notice with the SEC to report the purchase of an additional 314 Bitcoins. The acquisition brings the company’s total bitcoins to 70,784 for a market value of $2.2 billion.

MicroStrategy: All of its Cash in Bitcoins

Since last August, Micheal Saylor has been swearing by Btcoin Compass to invest his surplus cash. His strategy has paid off, as MicroStrategy’s share price has appreciated by 350% since the beginning of Q3 2020. From a fundamental stock analysis point of view, this price increase makes sense.

Indeed, most stock valuation methods take into account the cash value of the company under study. As such, MicroStrategy’s share price has doubled with the rise in the price of Bitcoin. Obviously, this has an impact on the share price.
MicroStrategy’s share price
Saylor, Evangelist of Bitcoin

Michael Saylor took advantage of this new acquisition to come and discuss Bitcoin on CNBC and make an amazing announcement. Saylor intends to hold a conference bringing together executives from the largest American companies to explain how to expose themselves to Bitcoin:

„We’re going to bring together thousands of executives, managers, directors and business advisors, starting the first week of February. They all want to understand how to integrate Bitcoin into their balance sheet or income statement. So we’re going to share what we’ve learned in this area. »

Why would Saylor take the risk of losing its market advantage? Perhaps the idea behind the conference would be to accelerate institutional adoption in order to increase demand for bitcoin and push its price even higher.