ZB Academy：MicroStrategy and Meitu purchased large amounts of Bitcoin
MicroStrategy, a well-known independent business intelligence company that has reported many times before, has once again purchased a large amount of Bitcoin. On March 5th, the company’s CEO Michael Saylor announced on Twitter that MicroStrategy purchased another 205 bitcoins for $10 million in cash, with an average purchase price of $48,888. As of March 5, 2021, MicroStrategy has purchased a total of 91064 bitcoins for $2.196 billion, with an average purchase price of $24,119.
And there is another company that bought crypto assets such as Bitcoin on March 5. According to the announcement issued by the well-known Chinese company Meitu on March 7, Meitu Group purchased 15,000 Ethereum and 379.1214267 Bitcoins in open market transactions on March 5, 2021. They are valued at approximately $22.1 million and $17.9 million respectively, with a total investment of $40 million. Cai Wensheng, the founder of Meitu, said that Meitu continues to lay out the blockchain, this time buying Ethereum and Bitcoin digital currency as a value reserve for the long-term development of the blockchain strategy. He said that Meitu is the first Hong Kong listed company to purchase Bitcoin digital currency, and it is also the world’s first listed company to use Ethereum as a reserve of currency value.
In addition, crypto analysis agency Bloqport released a tweet saying that the latest data shows that Purpose’s Bitcoin ETF (Exchange Traded Fund) has increased its holdings of 1381 BTC in the past 7 days, and the fund currently holds 11,445 BTC.
According to ZB.com’s official market data, Bitcoin is currently reported at $51,479, a 24-hour increase of 4.51%, and the 24-hour price range is $48,979 to $51,669.
March 5, Goldman Sachs, a leading international investment bank, announced the results of a survey on Bitcoin and digital assets, showing that investors are optimistic about Bitcoin. The subjects of this survey are 280 Goldman Sachs clients. The results show that 40% of people are involved in the cryptocurrency industry. More than 60% of respondents expect their crypto asset holdings to increase in the next 1–2 years. 22% of respondents expect Bitcoin to be worth $100,000. In response, Matthew McDermott, the company’s director of digital assets, said that from hedge funds to wealthy individuals, all Goldman Sachs customers have demand for Bitcoin.
Payment giant PayPal also expressed views on the crypto field. Dan Schulman, CEO of PayPal, said that there are many opportunities to help create the next generation of infrastructure, and this is the purpose of establishing the encryption business unit last month. PayPal’s encryption business currently only provides Bitcoin and some other cryptocurrencies, but it will soon allow the business to go beyond “buy, sell, and hold”. Schulman believes that some of the underlying technologies related to cryptocurrency are indeed beneficial. They can truly utilize and modernize the infrastructure of the old system, so that we can achieve a more inclusive society. PayPal hopes to keep its idle cash for potential acquisitions, including those in the crypto sector.
In addition, according to statistics from CoinATMRadar, as of now, the number of Bitcoin ATMs deployed globally has reached 16,359. Bitcoin developer Jimmy Song posted on Twitter that converting fiat currency to Bitcoin is a step from debt to savings. The well-known commercial bank J.P. Morgan has distributed an educational material to its customers to help them understand the basic knowledge, risks and potential of Bitcoin and cryptocurrencies. The content includes the basics of Bitcoin and the impact of adding Bitcoin to the investment portfolio.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Group by visiting www.zb.com