HUGE DEVELOPMENT! One Key Signal That May Indicate A Bitcoin Bottom

Business intelligence firm MicroStrategy scooped up 2,395 BTC at an average price of $17,181 between Nov. 1 and Dec. 21. (I know the bottom was sub-$16,000 but this is pretty close for MicroStrategy). It subsequently sold 704 BTC at a loss to offset previous capital gains. A few days later, the company bought an additional 810 BTC, bringing its total holdings to 132,500 BTC. MicroStrategy’s chief Bitcoin evangelist Michael Saylor has been adamant that his firm plans to convert its fiat holdings into BTC for the foreseeable future and will continue to hold the flagship digital asset indefinitely. The current value of MicroStrategy’s Bitcoin is $2.2 billion versus an overall cost basis of over $4 billion, according to Bitcoin Treasuries. That’s pretty brutal.

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