MicroStrategy’s again shows its Commitment for Bitcoin

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Andrew Kang, MicroStrategy’s Chief Financial Officer, stated this Wednesday that the company would continue to hold and buy Bitcoin long-term despite continuing volatility caused by UST depegging as well as LUNA’s downwards spiral in which dragged down BTC.

MicroStrategy’s Mr. Kang joined the company on the 9th May. He was previously the home-improvement loan lender of Greensky Inc. and served the same role as CFO. According to Mr. Kang’s statement, the company doesn’t intend to sell any of its Bitcoin holdings. He said that MicroStrategy investors were aligned to the Bitcoin gameplan. He stated that:

“At this time, we do not have any intention to sell. There are no scenarios that I’m aware [in which] we would sell. Our investors are very much aligned with our strategy.

Some of the more recent volatility was certainly around some of the activity outside of bitcoin. For us, we monitor that from a market perspective, but there [isn’t] anything fundamental to bitcoin that we believe presents any issues against our strategy.

Recent Crypto Volatility push regulators for regulation on Cryptocurrency

MicroStrategy’s new CFO predicted that crypto market volatility might lead to new regulation, which is something the company supports.

MicroStrategy’s Bitcoin Holdings Are Slightly In the Red
MicroStrategy stated that it has purchased 129 218 Bitcoin up to March 31st. The average price was $30,700.

Bitcoin hovers at $30,100 as of the writing. This means MicroStrategy’s Bitcoin stash is worth $3.889 Billion, compared with the $3.966 BTC spent on its purchase. This means that the company’s net worth is approximately $77.53 billion.

Michael Saylor Celebrates Bitcoin’s Pizza Day

Notable is the fact that today is Bitcoin Pizza Day. Laszlo Hansyecz from Florida bought two pizzas worth 10,000 Bitcoin for $41 in 2010. This transaction was the first to be recorded as Bitcoin adoption.

Michael Saylor was MicroStrategy CEO. He tweeted about the anniversary of Bitcoin Pizza and highlighted that Satoshi Nagamoto had disappeared on December 13, 2010. He declared

Bitcoin was launched on Jan 3, 2009, and it operated for 504 days without economic value until May 22, 2010. (Pizza Day) When two pizzas were exchanged for 10,000 BTC.

Satoshi disappeared December 13, 2010, leaving behind no profit. This completed the ethical launch the first digital money in the world.

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