Michael Saylor, former CEO of MicroStrategy, confirmed the company’s plan to continue buying Bitcoin to eventually surpass 500,000 BTC in total assets. Currently, MicroStrategy is only 904 BTC away from reaching half a million. Today, the company announced a $2 billion Bitcoin purchase, its largest this year. The purchase took place as the Bitcoin price recently dropped below $94,000 to a daily low of $93,877. Adam Back, CEO of Blockstream, attributed the recent Bitcoin drop to short-term traders. He believes the selling pressure may decrease after these traders exhaust their Bitcoin reserves. Back also mentioned that ETFs and companies like Bitfinex are accumulating Bitcoin. In other news, Saylor recently met with the SEC’s Digital Asset Working Group to discuss token classification and other digital asset issues. Nonetheless, MicroStrategy, as one of the largest Bitcoin holders, continues to play a crucial role in shaping the future of this digital currency.
