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Michael Saylor’s MicroStrategy holds over 1% of all Bitcoin; Now the company may move to the BlockDAG network
BlockDAG network
London, United Kingdom, May 7, 2024 (GLOBE NEWSWIRE) — MicroStrategy, a U.S.-based software company, now holds more BTC than anyone else in the world after increasing its holdings to nearly $14 billion ( £11 billion). There is now speculation that Michael Saylor’s company is eyeing potential investments BlockDAG network.
Michael Saylor and the Bitcoin boom
Many saw millions of dollars in gains from the “Bitcoin boom,” but Michael Saylor made billions with the “first” cryptocurrency. The dot-com entrepreneur’s bold move in 2020 to initiate large purchases of Bitcoin has produced substantial returns in 2024.
Bloomberg data reports that Saylor, co-founder and executive chairman of MicroStrategy Inc, would have amassed about $400 million through the planned daily sale of about 5,000 shares of the enterprise software company from January to the previous week. MicroStrategy’s shares have doubled in value this year, reaching around $1,290 (£1,000), also outpacing Bitcoin’s gains over the same period. By comparison, at the end of 2014, MicroStrategy was trading at around $160 (£125).
In its latest financial report, Tysons Corner, Virginia-based MicroStrategy revealed the acquisition of more than 25,000 BTC during the first four months of 2024, bolstering its total holdings to 214,400 BTC, surpassing 1% of all Bitcoin in circulation.
With this significant accumulation, MicroStrategy solidifies its position as the largest corporate holder of Bitcoin globally, boasting more than ten times the holdings of the second largest public company, mining company Marathon Digital Holdings.
The company’s Bitcoin reserves now exceed those of the United States, which holds 207,189 BTC worth $13.5 billion (£10.7 billion), as reported by Bitcoin Treasuries.
BTC is currently valued at around $63,000 (£50,800) per coin and recovering from last week’s low of $56,000. Despite the price fluctuations, MicroStrategy has seen its cryptocurrency investment appreciate by more than $6 billion (£4.7 billion). The company shows no signs of divesting and it is now speculated that the investment team is keeping an eye on a new cryptocurrency project, BlockDAG network.
Analysts are bullish on Bitcoin and BlockDAG Network
As Michael Saylor continues to make billions through his strategic acquisition of Bitcoin, speculation has begun to circulate in the cryptocurrency industry about his company and MicroStrategy’s potential interest in diversifying its digital asset portfolio with BlockDAG Network.
BlockDAG Network, an emerging project, hailed today as one of the most innovative platforms in the blockchain industry, is on its way to revolutionize the decentralized financial sector with its innovative technology and democratic vision: this could be the reason why Michael’s investment group Is Saylor supposedly interested in purchasing millions of BDAG coins?
The story continues
The news comes after the brand recently published the roadmap through which BlockDAG Network outlined ambitious development and expansion plans, signaling its commitment to becoming a leading player in the cryptocurrency market.
The brand’s unique block-directed acyclic graph (DAG) structure offers scalability, security and efficiency, addressing some of the key challenges faced by traditional blockchain networks.
For investors of both MicroStrategy and BlockDAG network, the potential collaboration could open up new avenues of growth and diversification. By leveraging MicroStrategy’s vast resources and expertise in the crypto space, BlockDAG Network could accelerate its trajectory towards global, mainstream adoption and solidify its position as a flagship project in the industry. On the other hand, MicroStrategy investors could benefit from further diversification of their crypto asset portfolio and potential gains from BlockDAG’s success.
The release of the BlockDAG Network’s roadmap further highlights its commitment to innovation and progress. With plans to develop new features, partnerships and community engagement initiatives, the network is poised for rapid growth and expansion in the coming months, with analysts optimistic about the 2025 outlook for the BDAG coin to reach between $10 and $25 per coin (between £8 and £19).
As Saylor evaluates its options for strategic investments, BlockDAG Network’s potential to disrupt the status quo and drive value creation could make it an attractive proposition for MicroStrategy and its investors
Amid Bitcoin’s resurgence, which is expected to reach last March’s record highs of $73,000 (£58,000), Saylor strengthened his bullish position through a tweet on Monday “Bet on the winner #Bitcoin”. Now, speculation abounds about its potential corporate investments in innovative projects like BlockDAG Network.
With MicroStrategy’s significant holdings in Bitcoin and its demonstrated commitment to expanding its cryptocurrency portfolio, the appeal of emerging global networks like BlockDAG is undeniable. BlockDAG’s innovative technology and ambitious roadmap may represent an exciting opportunity for MicroStrategy to further diversify its crypto assets and tap into a growing asset. As Saylor’s vision continues to guide MicroStrategy’s investment decisions, the prospect of a partnership or investment in BlockDAG Network could signal another bold move in the company’s crypto journey and a huge increase in the value of the BDAG coin.
Read information BlockDAG presale:
Website: https://blockdag.network
Pre-sale: https://purchase.blockdag.network
Telegram:https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
Disclaimer: The information provided in this press release does not constitute a solicitation for investment, nor is it intended as investment advice, financial advice or business advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.
CONTACT: Brown Williams support (at) blockdag.network
