The largest institutional purchase in Bitcoin history - Macro Strategy buys another $84 billion in Bitcoin
One of the best ways to get a better look at the future of Bitcoin is to look at large institutional buyouts because they vet everything before making any moves and decisions are filtered by real experts. This new massive buyout by Macro Strategy alone could be a glimpse into the future. Join us as we explore the story.
Michael Silver, the founder of the strategy, recently revealed an ambitious $84 billion Bitcoin buyback plan. He shared on Platform X that the fundraising target has now doubled, aiming to raise $42 billion through equities and another $42 billion through fixed income.
Currently, the strategy holds 553,555 bitcoins valued at around $53 billion, which is over 2.6% of the total Bitcoin supply. Just last month, the firm made some huge purchases, including a $1.42 billion buy on April 28.
Big Bitcoin purchases by companies started back in 2020, and many experts believe that the rapid growth of Bitcoin in 2021 was largely driven by these institutional buys. This, in turn, boosted confidence among smaller companies and individual investors. It makes sense — seeing major global corporations entering the crypto space naturally encourages more people to invest, which helped create a flood of new capital in 2021.
What is interesting is that in 2020 and early 2021, institutional investment numbers were in the range of a few hundred million to $2 billion. this move not only creates huge demand on exchanges and pushes prices higher, but it can also trigger a domino effect. Other companies and non-institutional investors are likely to jump in, increasing demand even more. Plus, if the U.S. government starts accumulating Bitcoin this year as rumored, that could further strengthen this trend.
Given all this, maybe we should take Arthur Hayes’ warning about Bitcoin reaching $1 million by 2028 a bit more seriously. What do you think? We’d love to hear your thoughts and have a friendly discussion in the comments!
Read more: Arthur Hayes predicts Bitcoin price will reach $1 million
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