MicroStrategy’s purchase of Bitcoin assets underscores the value of crypto and could help pre-sale coins like Dogetti
Investors in the cryptocurrency market are always looking for signs that something is about to either trigger a bullish run for coins or create sustainable stability. After all, the market is quite used to volatility and sudden price drops. The recent Bitcoin (BTC) investment by business intelligence software company MicroStrategy may be just that. It both provides a renewal of market confidence for crypto investors and points to a possible Bitcoin price rally if the policy of Bitcoin accumulation signals the health of a strong market for investors. What does this say about the state of the crypto market and could this help a pre-sale crypto asset like Dogetti (DETI)?
What is MicroStrategy and what has it done?
First, what is MicroStrategy? It is an analysis and reporting tool for enterprise data warehouses. It essentially generates reports that are useful and acts as business intelligence software that provides solutions for individuals and businesses.
Recently, MicroStrategy has started buying a lot of Bitcoin. This has caused the stock to rise, while at the same time it has led to an increase in the price of Bitcoin. According to a filing with the US Securities and Exchange Commission, MicroStrategy, which has built up significant Bitcoin accumulation, has pre-paid the remainder of its $205 million loan from now-defunct Silvergate Capital, a crypto-focused bank, while disclosing that it had purchased another 6,455 BTC tokens for about $150 million in the last five weeks, roughly worth $23,238 per coin.
This acquisition has now left MicroStrategy with a total of 138,955 BTC tokens and around the current BTC price of $28,472. These holdings are valued at around $3.95 billion.
What does this mean for Bitcoin and the wider cryptocurrency market?
The significant amount of Bitcoin investment by MicroStrategy could lead to a bullish rise in market prices in due course. As mentioned above, investors are always looking for signs of confidence in the cryptocurrency market. Right now, the market has been reeling from consecutive events that have triggered market volatility. This can deter investors from buying tokens if their value is in free fall, as they will be reluctant to invest in a declining asset.
But the noticeable Bitcoin accumulation could revive confidence in the rest of the market and push trading prices higher. Why? That’s because it sends a message to investors that the cryptocurrency market is considered a profitable investment for businesses. This, in turn, can increase investors’ confidence in the cryptocurrency market.
Can a pre-sale like Dogetti take advantage of this?
Presale coins are more dependent on bullishness or confident investors than some other coins. This is because pre-sales are the period where new cryptos gather support for their platforms and grow their names. It is generally accepted that today’s biggest coins are those that had successful presale ventures.
This is why, for a presale coin like the meme-based crypto Dogetti (DETI), investors need to feel positive about the market. This makes it more likely for them to invest in tokens and ensure that it generates the sales they want to reach during the pre-sale.
Currently, Dogetti (DETI) is in the very immediate stages of the pre-sale and is looking to generate $4,000,000 in sales before moving on to the next stage of the pre-sale. It stands to reason that it would struggle to attract investors if there was a collapse in faith in the cryptocurrency market. Maintaining broad support in the cryptocurrency market is important because as a decentralized community-driven crypto, Dogetti (DETI) is almost entirely dependent on the support of its backers, referring to them as part of the family.
Dogetti (DETI)
Advance sales:
Website:
Telegram:
