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- MicroStrategy announced the purchase of 21,454 bitcoins
- It costed them around $250 million
- They aim to use it as primary treasury reserve asset
On Saturday, Michael Saylor, Co-Founder and Executive Chairman of Nasdaq-recorded business knowledge organization MicroStrategy Inc. discussed how his firm is assisting with big business reception of Bitcoin’s Lightning Network.
It merits recollecting that on 11 August 2020, MicroStrategy declared through a public statement that it had bought 21,454 bitcoins at a total price tag of $250 million” to use as a “essential depository save resource.
BTC Price at time of writing – $19,693.66
Michael Saylor, the organization’s Co-Founder, Chairman, and CEO said at that point that their choice to put resources into Bitcoin as of now was driven to a limited extent by a conjunction of large scale factors influencing the financial and business scene that we accept is making long haul gambles for our corporate depository program ― takes a chance with that ought to be tended to proactively.
MicroStrategy’s most recent $BTC buy, which Saylor tweeted about on June 29, implies that the firm is currently HODLing around 129,699 bitcoins, which were procured for ~$3.98 billion at a typical cost of ~$30,664 per bitcoin.
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Lightning Network is separate from the Bitcoin network
It additionally referenced that Mr. Saylor will stay the Chairman of the Board of Directors and a boss of the Company.
On Sunday, CoinDesk revealed that Saylor had spoken Saturday September 3 to a group of people at the Baltic Honeybadger gathering in Riga, Latvia, and that he had this to say regarding how his firm is doing the Lightning Network:
“MicroStrategy has got some R&D projects continuing right now where we’re chipping away at big business utilizations of Lightning: venture Lightning wallet, endeavor Lightning servers, undertaking validation.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
