The very first Bitcoin acquisition of MicroStrategy back in September 2020 triggered a strong Bitcoin bull run, which surged high, marking a new ATH of $64,000.
The very first Bitcoin acquisition of MicroStrategy back in September 2020 triggered a strong Bitcoin bull run, which surged high, marking a new ATH of $64,000. This was the first time that the institutional interest in the token received massive support from the bulls. Since then, the company has been constantly acquiring Bitcoin, which has now reached over 500,000. With this, MicroStrategy has become one of the giant whales, and its position could have a significant impact on the BTC price rally.
Recently, the last time MicroStrategy acquired 22,048 Bitcoin was at an average price of $86,969 and it holds over 528,000 BTC. The company had acquired BTC when the price was close to $100K, and now that the price has dropped below $80,000, Micheal Saylor has not yet released any new data on acquisition. Moreover, he has not even stated that the company has not sold any BTC during the sell-off as he did before. This raises significant concerns about the upcoming price action and questions regarding why Microstrategy is not purchasing more Bitcoin.
Why This Should be a Matter of Concern
Micheal Saylor, the former CEO of MicroStrategy, keeps on buying Bitcoin no matter what the price is. It worked perfectly fine in the times when the markets were booming, but now, when the liquidity is tightening again and volatility is rising, more acquisitions may turn the
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