Michael Saylor’s MicroStrategy Holds Over 1% of All Bitcoins; Now the Company Could Move onto BlockDAG Network
London, U.K., May 07, 2024 (GLOBE NEWSWIRE) — MicroStrategy, a US-based software business, now holds more BTC than any one in the world, after increasing its holdings to nearly $14 billion (£11 billion). Now, it is being speculated that Michael Saylor’s company is eying potential investment in BlockDAG Network.
Michael Saylor and The Bitcoin Boom
Many have seen millions of dollars in returns with the “Bitcoin boom,” but Michael Saylor has made billions with the “first” cryptocurrency. The dot-com entrepreneur’s bold move in 2020 to initiate big Bitcoin purchases has yielded substantial returns this 2024.
Bloomberg data reports that Saylor, the co-founder and executive chairman of MicroStrategy Inc, has reportedly amassed around $400 million through planned daily sales of approximately 5,000 shares of the enterprise software company from January to the previous week. MicroStrategy’s stock has doubled in value this year, reaching about $1,290 (£1,000), surpassing even the gains of Bitcoin during the same period. In comparison, at the end of 2014, MicroStrategy was trading around $160 (£125).
In its latest financial report, MicroStrategy, headquartered in Tysons Corner, Virginia, disclosed the acquisition of over 25,000 BTC during the first four months of 2024, bolstering its total holdings to 214,400 BTC – surpassing 1 percent of all Bitcoins in circulation.
With this significant accumulation, MicroStrategy solidifies its position as the largest corporate holder of Bitcoin globally, boasting over ten times the holdings of the second-largest public company, mining firm Marathon Digital Holdings.
The company’s Bitcoin reserves now exceed those of the United States, which holds 207,189 BTC valued at $13.5 billion (£10.7 billion), as reported by Bitcoin Treasuries.
BTC is currently valued at approximately $63,000 (£50,800) per coin and on a rebound from last week’s low of $56,000–Despite price fluctuations, MicroStrategy has seen its crypto investment appreciate by over $6 billion (£4.7B). The company shows no signs of divesting, and now, it is being speculated that the investment team is keeping an eye on a newer cryptocurrency project, BlockDAG Network.
Analysts Are Bullish on Bitcoin and BlockDAG Network
As Michael Saylor continues to make billions through the strategic acquisition of Bitcoin, speculations have started to get around in the crypto industry about his company, MicroStrategy’s potential interest in diversifying its digital asset portfolio with BlockDAG Network.
BlockDAG Network, an emerging project, hailed as one of the most innovative platforms in the blockchain industry today, is on its journey to revolutionise the decentralised finance sector with its groundbreaking technology and democratic vision–could this be the reason why Michael Saylor’s investment group is allegedly interested in the purchase of millions worth of BDAG coins?
The news comes after the brand’s recent release of the roadmap through which BlockDAG Network has outlined ambitious plans for development and expansion, signalling its commitment to becoming a leading player in the crypto market.
The brand’s unique block-directed acyclic graph (DAG) structure offers scalability, security, and efficiency, addressing some of the key challenges faced by traditional blockchain networks.
For investors of both MicroStrategy and BlockDAG Network, the potential collaboration could open up new avenues for growth and diversification. By leveraging MicroStrategy’s vast resources and expertise in the crypto space, BlockDAG Network could accelerate its trajectory towards global and mainstream adoption and solidify its position as a top project in the industry. On the other hand, MicroStrategy investors could benefit from the added diversification of their crypto asset portfolio and potential gains from BlockDAG’s success.
The release of BlockDAG Network’s roadmap further underscores its commitment to innovation and progress. With plans for the development of new features, partnerships, and community engagement initiatives, the network is poised for rapid growth and expansion in the coming months, with analysts bullish on the 2025 prospects of BDAG coin reaching anywhere between $10 and $25 per coin (between £8 and £19).
As Saylor weighs his options for strategic investments, BlockDAG Network’s potential to disrupt the status quo and drive value creation could make it an attractive proposition for MicroStrategy and its investors
Amid Bitcoin’s resurgence, projected to top last March’s record highs of $73,000 (£58,000), Mr. Saylor reinforced his bullish stance through a tweet on Monday “Bet on the winner #Bitcoin.” Now, speculation abound regarding his potential business investments in innovative projects like BlockDAG Network.
With MicroStrategy’s significant holdings in Bitcoin and its demonstrated commitment to expanding its crypto portfolio, the allure of emerging global networks such as BlockDAG is undeniable. BlockDAG’s groundbreaking technology and ambitious roadmap may present an attractive opportunity for MicroStrategy to diversify its crypto assets further and tap into a growing asset. As Saylor’s vision continues to drive MicroStrategy’s investment decisions, the prospect of a partnership or investment in BlockDAG Network could signal yet another bold move in the company’s crypto journey and a huge rise in BDAG coin’s value.
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Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
CONTACT: Brown Williams support (at) blockdag.network
