Why did MicroStrategy buy more Bitcoins?

September 17, 2021 10:31 AM PDT | By Team Kalkine Media

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Most popular digital currency’s hold over the crypto space remains unshaken. Bitcoin’s backers neither fear the regulatory crackdown nor care about volatility in prices. These enthusiasts rely on future acceptance and growth of the blockchain-powered Bitcoin.

*Tesla’s Bitcoin holding is dwarfed by MicroStrategy. The company provides cloud, software and business intelligence services.

The company’s CEO, Michael Saylor, is a staunch backer of Bitcoin.

*Bitcoin is a digital-only currency, unlike fiat currencies like the dollar. There are no intermediaries in Bitcoin, making it easily transferrable among network members by using blockchain, or distributed ledger, technology.

*Bitcoin has appreciated much, and it may be time for altcoins like ADA (Cardano) to create wealth for investors. Others are betting on Bitcoin in the backdrop of El Salvador’s adoption and other favorable happenings.

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