Bitcoin’s recent price drop has raised worries for investors about the future of the cryptocurrency market , especially since altcoins usually follow Bitcoin’s lead. Even with this decline, Matrixport has pointed out past trends and other elements that could suggest Bitcoin might bounce back next year.
MicroStrategy , a well-known software company, has boosted its Bitcoin holdings to 446,400 BTC after buying 2,138 BTC for $209 million at an average price of $97,837 each. This is the eighth purchase in eight weeks, with the company spending about $27.9 billion on Bitcoin at an average price of $62,428 each.
MicroStrategy’s Bitcoin investments have seen great returns, with a 47.8% yield for the quarter and 74.1% for the year. The company is planning a meeting with shareholders to talk about buying more Bitcoin, which will strengthen its status as the biggest public holder of Bitcoin.
MicroStrategy’s stock price has dropped a bit, now trading at about $315, which is down more than 4%. The company’s link to Bitcoin has caused its stock value to rise by 400% this year, showing the effect of its cryptocurrency approach.
