If there is one thing that is certain with the crypto market, then it is the fact that it is the most volatile financial market out there. Sooner or later, all the market participants who appear to be green across the board are going to bleed red. This means that if cryptocurrencies are soaring in terms of price and value, then soon enough, these are going to be subjected to market corrections and would then be subjected to a price decline that is also known as the price dip.
Now when these cryptocurrencies are on their own, they are soon going to catch a bullish air and shoot in terms of price and value, and those fortunate investors who can buy the dip can reap the benefits when the crypto is once again booming. MicroStrategy is a business intelligence firm that happens to be in the habit of buying every Bitcoin dip dating all the way back to 2017. The firm’s CEO Michael Saylor has announced multiple times that he’s always looking forward to Bitcoin declining in terms of price so he can fill up his Bitcoin reserves.
In a recent market crash because of the new COVID-19 strain, Michael Saylor was able to acquire 7002 more Bitcoin tokens for an average price of $414.4 million. This brings the total count for MicroStrategy regarding Bitcoin up to 121K bitcoin tokens that are worth just under $7 billion. MicroStrategy happens to be the only crypto company out there that has only bought Bitcoin and never has chipped any token for the sake of acquiring a profit or initiating liquidation of all digital assets when the price is right.
MicroStrategy might be going for a long game here with Bitcoin so that when the price of the cryptocurrency really shoots up and is beyond what anybody has ever guessed, maybe only then MicroStrategy would care to liquidate those to have a decent return on its initial investment. After MicroStrategy bought these new tokens, Bitcoin saw a 7% increase in the following hours; this makes up for a possible bullish run that might accompany Bitcoin in the coming days.