Bitcoin shot past the $21k mark on Saturday due to MicroStrategy’s U.S. Securities and Exchange Commission filing to sell $500M of MSTR shares with the goal of purchasing even more Bitcoin. MicroStrategy is doubling down on BTC, and for good reason.
The 10% rise that occurred yesterday may cool back down, or continue to rise. At the time of this writing, BTC is sitting at $21,550.
Not familiar with MicroStrategy? Well, it’s a publicly traded software company that holds about 130,000 BTC. They already hold more Bitcoin than any other corporation in the world, and now they plan on buying more.
The software company and Michael Saylor have both gotten a lot of bad publicity due to the bear market and crypto crash that brought everything down. What will the speculators and so-called experts say when the currency surpasses previous highs and shoots over $100k?