Michael Sayer’s business intelligence company MicroStrategy has been buying bitcoin since 2019. Between November and December last year, the company had bought batches of bitcoins at a per token price of $57,477 (approximately Rs 45 lakh) and $49,229 (approximately Rs 35 lakh).
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin, As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTRhttps://t.co/bF6VImC0Qy
— Michael Saylor⚡️ (@saylor) February 1, 2022
Michael Sayer is one of the big proponents of bitcoin. He is often seen standing in favor of cryptocurrency with his statements.
With regard to cryptocurrencies, Sailor has predicted that the value of each bitcoin token could reach up to $6 million (about Rs 45 crore) in the coming year.
Michael Sailor is an active member of the Bitcoin Mining Council. His company is the first listed firm to publicly invest in bitcoin.
Sellers, however, are not the only ones who take advantage of the decline in bitcoin.
El-Salvador’s President Nayib Bukele is also among those who buy bitcoin at low rates. El Salvador declared bitcoin a legal tender last year.
Recently, El Salvador bought a batch of 410 more tokens for $15 million (about Rs 110 crore). During this time the value of bitcoin was at 35 thousand dollars (about 25 lakh rupees) per token. Governments of many countries including America, India and Russia are looking for ways to regulate the crypto sector. This confuses investors. Apart from this, some countries like Iran have temporarily banned crypto mining due to lack of electricity.
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