Michael Saylor, co-founder of Strategy and founder of Bitcoin, has predicted an imminent Bitcoin.BTCDespite the drop from its all-time peak of 112,000 dollars on May 22, the company made a recent purchase.
“I only buy Bitcoin with money I can’t afford to lose,” Saylor addressed his 4.3 millions followers via an X post.
This company is a good example of a most recent purchase of 7,390 BTC Strategy now holds 576,230 BTC, worth nearly $765 Million.
Strategy’s acquisition of Bitcoin on 26 May will be the seventh week in a row that the company has purchased bitcoin.
The strategy of Bitcoin has been made synonymous as this company keeps accumulating large amounts of BTC in its corporate treasury, and inspires other companies to adopt a Bitcoin Treasury Plan. This creates a demand from institutions for digital assets, and helps to boost the value of BTC.
Related: Jim Chanos takes opposing bets on Bitcoin and Strategy
BTC propel Strategy towards a $10 Trillion enterprise and leave other companies behind?
Jeff Walton is a recent market analyst who stated: Strategy may become a $10 trillion company Due to the growing Bitcoin stocks, it could be the largest publicly-traded corporation on the planet.
“Strategy holds more of the best assets, and the most pristine collateral, on the entire planet than any other company, by multiples,” Walton told The Financial Times is featured in a film about the firm.
Analysts noted that while most businesses have difficulty raising capital in the hundreds of millions, Strategy was able to do so in less than two months.
Strategy buys a fast-appreciating asset with the money it raises from its creditors and shareholders.
Michael Saylor predicted that the cost of Bitcoin would reach millions of dollars The coin will be worth more than $1 per coin over the next few decades. This is because the asset with a supply limit has an asymetric upside compared to all other fiat currency that does not have a supply cap.
Bitcoin, however, has not been able to achieve the $150,000 mark in the near term. Saylor blamed sluggish prices on investors taking profits prematurely And rotating out of BTC for lack of conviction over the long term.
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Source: cointelegraph.com
