Bitcoin Getting Attention from Institutional Investors, MicroStrategy Purchases 15,350 More Bitcoins

There has been a lot of growth in the crypto market since the victory of Donald Trump in the elections in America. The price of Bitcoin, the largest cryptocurrency in terms of market value, has also increased rapidly. Bitcoin has made a new high of over $1,07,700. The interest of institutional investors in this most popular cryptocurrency is also increasing. Enterprise software maker MicroStrategy has bought a large number of bitcoins in the last few weeks.

This company has purchased approximately 15,350 bitcoins worth approximately $1.5 billion between December 9 and December 15. For this, MicroStrategy has paid a price of a little more than $ 1,00,380 per bitcoin. The company’s share price has also benefited from increasing investors in the crypto segment. MicroStrategy’s stock has risen nearly 490 percent this year. Recently it was also included in the Nasdaq 100 index. The company has total holdings of approximately 4,39,000 Bitcoins. It has more than two percent of the total supply of this most valuable cryptocurrency.

However, Microsoft, one of the big software companies, has decided not to invest in Bitcoin. Recently the shareholders of this company voted against investing in Bitcoin. A proposal to assess investment in Bitcoin was presented to Microsoft shareholders. The company’s board had suggested the shareholders to vote against this proposal. Microsoft co-founder, Bill Gates is also against cryptocurrencies. He had expressed apprehension about speculation in cryptocurrencies and the risk of this segment.

During the election campaign, Trump had indicated not to make strict regulations for crypto. He has appointed crypto supporter Paul Atkins as the new Chief of the SEC. This has increased the possibility of a policy in favor of crypto when the new Trump-led government takes office in the US early next year. Trump has also informed about creating a strategic reserve of Bitcoin. Last week, Trump told traders at the New York Stock Exchange (NYSE) that he wanted crypto to be promoted in the US before other countries.