have an account?【sign in】Making Sense of Bitcoin: Understanding the Basics and Building a Strategy for Investment
basicauthorMicroStrategy Bitcoin Holdings Chart: A Visual Analysis of Bitcoin Holds and Prices in 2019
In recent years, the Bitcoin (BTC) cryptocurrency has gained significant popularity and traction in the global financial market. As a leading business intelligence company, MicroStrategy has taken a significant step forward in embracing Bitcoin by investing heavily in the digital asset. This article aims to provide a visual analysis of the company's Bitcoin holdings and their impact on the price of Bitcoin during 2019.
MicroStrategy Bitcoin Holdings in 2019
MicroStrategy, a US-based business intelligence company, has been a prominent investor in Bitcoin since 2015. In 2019, the company increased its Bitcoin holdings significantly, becoming one of the largest corporate holders of the cryptocurrency. According to data provided by CoinMarketCap, MicroStrategy held approximately 42,478 BTC as of December 2019, valued at approximately $1.88 billion at the time.
Figure 1: MicroStrategy Bitcoin Holdings in 2019 (Source: CoinMarketCap)
Impact of MicroStrategy Bitcoin Holdings on Prices
The significant increase in MicroStrategy's Bitcoin holdings during 2019 had a direct impact on the price of Bitcoin. As the company's holdings grew, so did the demand for Bitcoin, resulting in an upward trend in the price of the cryptocurrency. This trend can be seen in Figure 2, which shows the price of Bitcoin against the US dollar during 2019.
Figure 2: Bitcoin Price Against US Dollar in 2019 (Source: TradingView)
The graph shows a generally upward trend in the price of Bitcoin, with several peaks and troughs throughout the year. The largest increase in the price of Bitcoin occurred in late 2019, coinciding with the announcement of MicroStrategy's significant investment in the digital asset. This indicates that the company's holdings had a positive impact on the price of Bitcoin, encouraging investors to purchase the cryptocurrency.
The significant investment made by MicroStrategy in Bitcoin during 2019 has had a positive impact on the price of the cryptocurrency. The company's holdings have served as a driver of demand, contributing to an upward trend in the price of Bitcoin during the year. As a leading business intelligence company, MicroStrategy's adoption of Bitcoin highlights the potential of the digital asset in the global financial market. However, the volatile nature of the price of Bitcoin remains a key challenge for investors, and further research is needed to understand the long-term impact of corporate holdings on the price of the cryptocurrency.