MicroStratey did not buy a Bitcoin (BTC) yesterday. This puts an end to a special series of twelve consecutive weeks on BTC purchases. But there seems to be a simple explanation for this.
218 thousand BTC purchased in 3 months
MicroStrategy appeared every Monday in the Bitcoin News every Monday with a new expansion of his digital treasure chest. But yesterday this spectacular streak cracked.
” Last week, MicroSstratey did not sold any shares of class A ordinary shares under its ATTH-Market stock issue program and not bought a Bitcoin, wrote chairman of the board Michael Saylor.
For example, MicroSstratey gets stuck on a possession of 471,107 bitcoins that are worth around $ 46.2 billion against the current Bitcoin rate. The company has laid down $ 30.4 billion for this and can therefore record an unrealized profit of $ 15.8 billion.
Since November 11, it has added bitcoins to its portfolio every week. In total it has spent more than $ 20 billion and received more than 218 thousand bitcoins for that.
MicroStrategy was always known for its business intelligence software, but Bitcoin has grown into the core of his business strategy in recent years. For many, it has become the figurehead of the Bitcoin world, although of course there are also critics who see the company as a danger to the decentralization of the crypto currency.
MicroStratey has the crown as the largest listed Bitcoin holder, and the competition can only watch from the sidelines. There is a gap of more than 400 thousand bitcoins and this will not be closed quickly.
Why does Micro Strategy press on a break?
Bitcoiners naturally wonder why MicroStrategy did not buy new coins yesterday. This could have to do with the quarterly figures that will be announced tomorrow.
Listed companies often have a so-called blackout period just before they publish their figures. During this period, people within the company are not allowed to buy or sell shares to prevent insider trading (prior knowledge trade).
Because MicroStrategy has a large part of its assets in Bitcoin, this rule could also apply to buying or selling Bitcoin.
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Source: https://newsbit.nl/bitcoin-gigant-microstrategy-stopt-12-weekse-aankoopstreak/
