© Reuters
Investing.com – Anyone who regularly follows the news will know MicroStrategy (NASDAQ::) CEO Michael Saylor. In his former position as CEO, he ensured that the company had been buying bitcoin for a few years already, in order to make itself less attractive to hostile takeovers.
At the same time, Saylor sees BTC as a good investment for the future, as the importance of this cryptocurrency will continue to increase in his view. Bitcoin stock is now at 130,000, but that doesn’t make the software maker the biggest whale.
With a stock of 194,000 BTC, China has a much thicker wallet. But unlike MicroStrategy, the Chinese government has not bought the cryptocurrency. Rather, it is a digital asset grab related to the 2019 PlusToken hoarding, as explained by CryptoQuant CEO Ki Young Ju.
This concept, designed in 2018 as a Ponzi pyramid, was all the rage in Asia, as a 30% return made many investors forget the dangers.
By Marco Oehrl