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The cryptocurrency market is starting to recover after a price correction that has been rough due to negative news and an unstable economic situation. However, the crypto market began to recover its positions both on international exchanges and in the information space. After a series of news about bitcoin support during the price correction, it came to real cases. MicroStrategy has significantly increased its investment in bitcoin by purchasing 20,000 coins, which is equivalent to a billion dollars. However, the main news is that these injections occurred during a market correction when the coin was quoted at $52.7.
Michael Saylor’s company clearly showed the entire market when exactly it is worth investing in the main crypto asset. It’s no secret that soon the cryptocurrency market will begin to storm new historical records. And MicroStrategy is fully prepared for a significant increase in revenue amid the rapid rise in bitcoin prices. Saylor shared information that MicroStrategy now has about 91,000 coins, for the purchase price worth $2.2 billion. Through easy mathematical calculations, it becomes clear that the average cost of one bitcoin for Saylor’s company was approximately $24,000.
Thus, the company will become the first major investor to show how important the price correction of such a volatile asset as bitcoin is. It is expected that during the next cryptocurrency price adjustment, the investment flow will increase significantly. This practice can help bitcoin become less dependent on the economic situation, investments, and bad news. Strengthening its own independent positions will allow bitcoin to become a less volatile asset, which can significantly expand the list of its current capabilities.
This is exactly what the oldest Swiss bank Bordier & Cie SCmA understands, which informed its clients that now they can conduct transactions with bitcoin and other cryptocurrencies. The main signal for the introduction of such a function was the news that bitcoin reached one trillion in total capitalization. The bank is now ready to meet the ever-increasing demand for cryptocurrency transactions. The events of January and February 2021 became a mouthpiece for future changes in the cryptocurrency market and the further introduction of digital assets into all elements of financial transactions.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Artem Petrenko,
Analytical expert
InstaForex Group © 2007-2021
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