Bitcoin Getting Strong Interest From Institutional Investors, MicroStrategy Buys More than USD 20 Million of Bitcoins

The interest of institutional investors has increased in Bitcoin, the largest cryptocurrency in terms of market value. Enterprise software maker MicroStrategy has made large purchases of Bitcoin for the eighth consecutive week. It is the company with the largest holding of this most popular cryptocurrency.

MicroStrategy holds approximately 4,46,000 Bitcoins. The company’s executive chairman, Michael Saylor, said in a post on social media platform For this, an average price of $ 97,837 per bitcoin has been paid. For this, MicroStrategy has sold its shares. The shares of this company had made its high level last month. However, since then its share price has fallen by about 40 percent.

recently microstrategy Had told that it can buy Bitcoin by issuing more shares next year. The price of Bitcoin has increased by more than 130 percent this year. Recently it had created a new high level of more than $1,08,800. However, Bitcoin has declined significantly since then. MicroStrategy’s stock has risen nearly 480 percent this year. However, questions are also being raised on the strategy of buying Bitcoin by selling shares of this company. During the presidential election campaign in America, Donald Trump had hinted at creating a reserve of Bitcoin. However, the Federal Reserve says it does not intend to get involved in the new government’s plan to create a large stock of Bitcoin.

Russian companies are using Bitcoin in their business abroad. Recently, Russia changed the law to allow the use of cryptocurrencies to deal with the restrictions of Western countries. Russia’s Finance Minister Anton Siluanov has said, “Bitcoins mined in Russia have been allowed to be used.” Russia is among the major countries mining Bitcoin. “These types of transactions are taking place. We believe it should be expanded,” Siluanov said. He said that in future international payments can be made in digital currencies.