2020, unlike previous years in the bitcoin history, has seen remarkable interest in bitcoin and crypto with insitutional investors increasing their bitcoin allocations substantially regardless of short-term price dips.
While the 2020 bitcoin halving did not come with the expected post-halving rally, this does not seem to have deterred investors at all.
The interest in crypto is largely coming from the belief that the market will improve with regulations for the crypto market becoming clearer in the future.
On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
As talk of crypto regulation spreads around the world and the global economic climate amid the Covid-19 pandemic continues to take hold, bitcoin will continue to be viewed as a valuable reserve and hedging asset and its value is only going to go up.