Microstrategy planning to buy Ethereum (ETH): Report

Table of Contents

• Bitcoin price action

Reportedly Nasdaq listed business intelligence firm Microstrategy planning to invest in Ethereum (ETH).

Microstrategy is a business intelligence firm that is mainly known for its Bitcoin investment strategy. Since Aug 2020, this company has been investing in Bitcoin. This company aimed to add multi-million Bitcoin to the company’s balance sheet. To date, this company is holding 193,000 BTC with a net 73% profit.

On 6 March 2024, Crypto Intelligence News reported that a person close to Microstrategy disclosed that the company was planning to buy Ethereum (ETH) to add to the company’s balance sheet.

The report confirmed that they’re still not sure whether the information is right or not but asked the Microstrategy firm directly on this matter. So far no response from Microstrategy or any executive came on this report.

The former Microstrategy CEO Michael Saylor is the key person who manages the company’s Bitcoin-related strategies. In the past, he passed many hate comments against Ethereum & other cryptocurrencies.

Once, Saylor said that ETH or other crypto assets may result in better profit in the short term but that will always remain risky. He also hits back against all the cryptocurrencies for using the Proof-of-stake (PoS) consensus which is modern & efficient technology but highly centralised.

Bitcoin price action

The current trade price of Bitcoin (BTC) is $66k. In the last couple of days, the trade price of Bitcoin was calm.

Just a couple of days ago, Bitcoin hit $69k+ on some crypto exchange and that triggered a next level of fear among the traders.
In the current sentiments, people are expecting that the trade price of Bitcoin is ready to pump by 100% in the next two weeks.

Read also: Big Crypto Influencer says Bitcoin may hit $138k in the next 18 days