{"id":169842,"date":"2021-02-03T17:00:00","date_gmt":"2021-02-03T14:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/microstrategy-will-pitch-bitcoin-to-1400-public-companies-how-will-btc-price-react\/"},"modified":"2021-02-03T17:00:00","modified_gmt":"2021-02-03T14:00:00","slug":"microstrategy-will-pitch-bitcoin-to-1400-public-companies-how-will-btc-price-react","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/microstrategy-will-pitch-bitcoin-to-1400-public-companies-how-will-btc-price-react\/","title":{"rendered":"# MicroStrategy will pitch Bitcoin to 1,400 public companies: How will BTC price react?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a745f6e019\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a745f6e019\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/microstrategy-will-pitch-bitcoin-to-1400-public-companies-how-will-btc-price-react\/#Why_is_MicroStrategy_discussing_Bitcoin_with_public_companies\" >Why is MicroStrategy discussing Bitcoin with public companies?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/microstrategy-will-pitch-bitcoin-to-1400-public-companies-how-will-btc-price-react\/#What_happens_next\" >What happens next?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># MicroStrategy will pitch Bitcoin to 1,400 public companies: How will BTC price react?  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>MicroStrategy, a $6.37-billion business intelligence conglomerate in the United States, will meet with public companies on Thursday to discuss Bitcoin (BTC).<\/p>\n<p>Michael Saylor, CEO of MicroStrategy, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1356712865827332099\">said<\/a> that professionals from over 1,400 firms are joining the event. <\/p>\n<p>\u201cIf you are interested in the legal considerations firms face while integrating Bitcoin into their corporate strategy, you are not alone,&#8221; Saylor wrote. &#8220;We have professionals from more than 1400 firms joining us tomorrow for this discussion.&#8221;<\/p>\n<p>He also said that he has never seen so many CEOs sign up to attend one of its events, adding:\u00a0<\/p>\n<blockquote><p>&#8220;Every company can benefit from plugging into the Bitcoin Monetary Network.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Why_is_MicroStrategy_discussing_Bitcoin_with_public_companies\"><\/span>Why is MicroStrategy discussing Bitcoin with public companies?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ever since MicroStrategy started to aggressively accumulate Bitcoin in the summer of 2020 as its main treasury asset, there has been a clear increase in institutional demand.<\/p>\n<p>Bitcoin is becoming more compelling as a store of value and a safe-haven asset as the fear of inflation continues to intensify. The demand for Bitcoin has been evident in the rising inflows into Grayscale Bitcoin Trust and large Coinbase outflows, as just some examples.<\/p>\n<p>High-net-worth investors in the U.S. rely on Coinbase to purchase Bitcoin and typically withdraw the BTC they purchase to self-custody wallets.<\/p>\n<p>Hence, when Coinbase outflows increase, it signals that large buyers in the U.S. are buying BTC. On Monday, CryptoQuant CEO Ki Young Ju <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1356064856424632324\">said<\/a>:<\/p>\n<blockquote><p>\u201cMassive Coinbase outflows. 15k $BTC at 32.4k Looking at the TX, it went to custody wallets that only have in-going transactions. It&#8217;s likely to be OTC deals from institutional investors. I believe this is the strongest bullish signal.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/3c437476-9755-4735-8bf4-69dc8724c1b8.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin Coinbase Pro outflow. Source: CryptoQuant.com<\/em><\/figcaption><\/figure>\n<p>The accumulation of Bitcoin by big players in the U.S. coincides with the growing institutional interest in Bitcoin and the upcoming meeting between MicroStrategy and public companies.<\/p>\n<p>MicroStrategy has also been actively buying the dips\u00a0in recent months. The latest purchase came on Tuesday, with MicroStrategy adding another $10 million in Bitcoin.<\/p>\n<p>The company now holds 71,079 BTC, worth $1.145 billion, which it purchased at an average price of $16,109 per BTC. Saylor <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1356600103193182210\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cMicroStrategy has purchased <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 295 bitcoins for $10.0 million in cash, at an average price of ~ $33,808 per #bitcoin. We now #hodl ~ 71,079 bitcoins acquired for $1.145 billion at average price of ~ $16,109 per bitcoin.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_next\"><\/span>What happens next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If inflows into the Grayscale Bitcoin Trust and outflows from Coinbase spike considerably after the meeting, then it may suggest that some companies may have bought BTC.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/7998d51b-a44a-4fdb-970f-a69bfd0847b6.jpeg\"><figcaption style=\"text-align: center;\"><em>MSTR vs. BTC vs. NASDAQ. Source: Ecoinometrics<\/em><\/figcaption><\/figure>\n<p>There is a real possibility that some of these 1,400 companies will follow MicroStrategy&#8217;s footsteps, particularly considering the effect investing in BTC had on the company. In fact, MSTR is one of the few stocks that has even outperformed BTC in the past few months.<\/p>\n<p>Currently, Bitcoin is hovering under the $38,000 resistance level, which is the last remaining resistance before the $40,000\u2013$42,000 range. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/microstrategy-will-pitch-bitcoin-to-1-400-public-companies-how-will-btc-price-react\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# MicroStrategy will pitch Bitcoin to 1,400 public companies: How will BTC price react? &#8221; MicroStrategy, a $6.37-billion business intelligence conglomerate in the United States, will meet with public companies on Thursday to discuss Bitcoin (BTC). Michael Saylor, CEO of MicroStrategy, said that professionals from over 1,400 firms are joining the event. \u201cIf you are&#8230;<\/p>\n","protected":false},"author":1,"featured_media":169843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvMTJiNjk3NzktNDMzNy00Y2Q5LWI3MDAtMGNjMGI5YTQ0ODJhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73711,73785],"class_list":["post-169842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=169842"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/169843"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=169842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=169842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=169842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}