MicroStrategy May Increase or Sell its Bitcoin Holdings in the Future

MicroStrategy May Increase or Sell its Bitcoin Holdings in the Future

JOHN P. NJUI   •   BITCOIN (BTC) NEWS •   APRIL 30, 2021

  • MicroStrategy has released its Q1 financial report
  • MicroStrategy has 91,579 Bitcoin on its balance sheet at an average entry of $24,311
  • The report goes on to explain that MicroStrategy may increase or reduce its BTC holdings in the future
  • This statement comes after Tesla sold some of its Bitcoin for $272 million

MicroStrategy has released its Q1 2021 financial report in which the company states that it now owns 91,579 Bitcoins at an average cost of $24,214 for each BTC.

The company’s CEO, Michael Saylor, went on to explain that the first-quarter results were an indicator that their two-pronged approach to regular business and owning Bitcoin was working. Mr. Saylor elaborated the company’s progress through the following statement.

MicroStrategy’s first quarter results were a clear example that our two-pronged corporate strategy to grow our enterprise analytics software business and acquire and hold bitcoin is generating substantial shareholder value.

We had one of our strongest operational quarters in our software business in years…We continue to be pleased with our bitcoin strategy.

MicroStrategy May Increase or Reduce its BTC Holdings

In the report, Mr. Saylor reiterated that MicroStrategy ‘will continue to acquire and hold additional bitcoin as we seek to create additional value for shareholders’.

However, the report goes on to clarify that the company of MicroStrategy might increase or sell its Bitcoin holdings in the future as seen through the following statement.

In future periods, MicroStrategy may purchase additional bitcoins and increase its overall holdings of bitcoin or sell its bitcoins and decrease its overall holdings of bitcoin.

News of Tesla Selling its BTC Might Have Motivated MicroStrategy to Issue a ‘Disclaimer’

To note is that MicroStrategy’s CEO, Michael Saylor, is a firm believer that Bitcoin is a greater store of value than Gold.

However, the recent news of Tesla selling $272 million in Bitcoin, might have motivated MicroStrategy to add a statement that selling BTC was a possibility in the future.

The move by Tesla to offload some of its Bitcoins led to an uproar on the various social media platforms with some members of crypto-Twitter concluding that Elon Musk dumped his bags on them. Below is a screenshot of one such reaction by Dave Portnoy and Elon Musk’s response.

Company Shareholders Come First, then Bitcoin

From the example of Tesla, it can be concluded that MicroStrategy made a wise move in declaring that selling some of its Bitcoin was a possibility in the future. Besides, MicroStrategy, like every other global company, is tasked with first staying true to its shareholders.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

MicroStrategy Increase or Sell Bitcoin?

MicroStrategy May Increase or Sell its Bitcoin Holdings in the Future

JOHN P. NJUI   •   BITCOIN (BTC) NEWS •   APRIL 30, 2021

  • MicroStrategy has released its Q1 financial report
  • MicroStrategy has 91,579 Bitcoin on its balance sheet at an average entry of $24,311
  • The report goes on to explain that MicroStrategy may increase or reduce its BTC holdings in the future
  • This statement comes after Tesla sold some of its Bitcoin for $272 million

MicroStrategy has released its Q1 2021 financial report in which the company states that it now owns 91,579 Bitcoins at an average cost of $24,214 for each BTC.

The company’s CEO, Michael Saylor, went on to explain that the first-quarter results were an indicator that their two-pronged approach to regular business and owning Bitcoin was working. Mr. Saylor elaborated the company’s progress through the following statement.

MicroStrategy’s first quarter results were a clear example that our two-pronged corporate strategy to grow our enterprise analytics software business and acquire and hold bitcoin is generating substantial shareholder value.

We had one of our strongest operational quarters in our software business in years…We continue to be pleased with our bitcoin strategy.

MicroStrategy May Increase or Reduce its BTC Holdings

In the report, Mr. Saylor reiterated that MicroStrategy ‘will continue to acquire and hold additional bitcoin as we seek to create additional value for shareholders’.

However, the report goes on to clarify that the company of MicroStrategy might increase or sell its Bitcoin holdings in the future as seen through the following statement.

In future periods, MicroStrategy may purchase additional bitcoins and increase its overall holdings of bitcoin or sell its bitcoins and decrease its overall holdings of bitcoin.

News of Tesla Selling its BTC Might Have Motivated MicroStrategy to Issue a ‘Disclaimer’

To note is that MicroStrategy’s CEO, Michael Saylor, is a firm believer that Bitcoin is a greater store of value than Gold.

However, the recent news of Tesla selling $272 million in Bitcoin, might have motivated MicroStrategy to add a statement that selling BTC was a possibility in the future.

The move by Tesla to offload some of its Bitcoins led to an uproar on the various social media platforms with some members of crypto-Twitter concluding that Elon Musk dumped his bags on them. Below is a screenshot of one such reaction by Dave Portnoy and Elon Musk’s response.

Company Shareholders Come First, then Bitcoin

From the example of Tesla, it can be concluded that MicroStrategy made a wise move in declaring that selling some of its Bitcoin was a possibility in the future. Besides, MicroStrategy, like every other global company, is tasked with first staying true to its shareholders.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

Trailblazing Cardano Makes Major Strides In Africa

Trailblazing Cardano Makes Major Strides In Africa, Pundits Call $10 ADA Price

By Erie Maxwell – April 30, 2021

The sixth-largest cryptocurrency, Cardano (ADA) spurred a bullish run for hours on the market, yesterday, gaining an impressive 10% value increase after it announced the kick-off of its Cardano Africa project.

The project would see the cryptocurrency giant, partner with the government of Ethiopia to develop the world’s largest blockchain database system for its educational sector.

With its kick-start, Cardano made public its long-term plans for Africa on Wednesday, stating that it hopes to pioneer the decentralization of finance and the creation of secure databases across nations on the continent, through blockchain technology.

Over the last six months, the continent has seen soaring interests in cryptocurrency with countries like Nigeria – the most populous black nation, constantly topping most nations on crypto-related Google searches.

Bedeviled by increasing government clampdown and soaring inflation, only very few nations on the continent have government-backed support for their citizen’s use of cryptocurrency, and this makes the initiative of the government of Ethiopia in partnership with Cardano’s IOHK, a highly commendable trail-blazing effort.


ADAUSD Chart By TradingView (Click image for larger view)

Following the recent trend, some independent analysts believe the vibrant altcoin which currently holds 2% of the entire crypto market has chosen a sustainable path and is capable of rising above the ashes of bearish runs to smash the $10 mark before the end of 2021.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Erie Maxwell and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

OlympusDAO Fundamentals Explode

OlympusDAO Fundamentals Explode, How OHM Holders Will Benefit

By Reynaldo Marquez – April 29, 2021 in DeFi Reading Time: 2min read

In only three weeks OlympusDAO native token OHM has gone from $812 to $1639, at the time of writing. In the 30-day chart, the token has a 74.2% profit and a 55% profit in the 7-day chart. The protocol’s fundamental continues growing at an impressive pace and could yield further gains.


OHM moving sideways in the daily chart. Source: Coingecko

Data shared by the OlympusDAO revealed an increase in the number of OHM holders. Under 1,000 at the end of March 2021, this metric has more than double in April and stands at 3,300. In the past 30 days, OHM holders have been growing exponentially.


Source: Dune Analytics via OlympusDAO

The team also shows an increase in the Risk-Free Value of Treasury Assets metric, used to measure the minimum value of OlympusDAO assets. As the team said, “no matter where the price hoes; this goes flat or up”. The metric stands at 2,807,363 DAI, at the time of writing and has gone parabolic since April 21st.


Source: Dune Analytics via OlympusDAO

The Market Value of Treasury Assets, related to OHM’s price performance, stands at $25,147,490 million and has seen similar growth in the last month. 90% of OHM’s supply, as the team said, has been consistently staked with the “3,3” as the dominant investment strategy.

In consequence, the protocols Total Value Locked (TVL) has increased after a dropped at the end of March. Since then, the metric rose with the last week seen the fastest growing. OlympusDAO registered $150 million in TVL. The team said the following on potential rewards for investors:

Things don’t look like they will let up for those stakers any time soon; OHM waiting to be distributed to stakers is now 20x more than OHM staked, securing >50,000% APY for the next six months at least.


Source: Dune Analytics via OlympusDAO

OlympusDAO Liquidity On The Rise

Additional data points towards a liquidity accumulation on the protocol. The pool for trading pairs DAI/OHM and OHM/DAI have surged and gone from $3 million at the protocol’s launch to $28 million, at the time of writing. 83% of the pool’s liquidity is treasury owned, as the Team clarified. They added the following:

This ownership is to the point that external LPs should feel quite comfortable deploying into the pool. A significant risk on the part of a liquidity provider is that everyone else to pulls and they end up holding the bag. This risk is minimized significantly when the protocol holds a majority share.

Created as an algorithmic currency protocol, OlympusDAO has created a mechanism that employs asset backing as a supply constraint. Their native token OHM is minted by the liquidity provided in DAI or OHM-DAI LP send to the protocol. As anonymous user “Shadow” explained, the protocol has been designed to protect its investors:

OlympusDAO preserves your purchasing power by rebasing your staked OHM. Rebasing is nothing other than minting new OHM which is paid to the stakers. The rebase is shown as a % increase of the staked OHM per epoch (8h). The APY is just the auto-compounded rebase over a year.

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The original article was written by Reynaldo Marquez and posted on NewsBTC.com.

Article reposted on Markethive by Jeffrey Sloe

purchase crypto using PayPal

Coinbase offers customers a way to purchase crypto using PayPal

Users of the exchange will be able to purchase up to $25,000 in crypto daily using PayPal.


Image courtesy of CoinTelegraph

            APR 29, 2021

Coinbase users with PayPal accounts will now have another way to purchase crypto through the exchange.

In an announcement from Coinbase today, the crypto exchange said it would be allowing its customers based in the U.S. to buy crypto using debit cards and bank accounts linked to their PayPal accounts. Coinbase said the move would let many users bypass automated clearing house and wire transfers — methods the exchange still offers — to fund crypto purchases.

The integration will reportedly allow Coinbase users with PayPal accounts to “buy crypto instantly” without adding bank account information or credit card numbers directly to the exchange. Users will be able to purchase up to $25,000 in crypto daily using payment methods from PayPal.

According to Coinbase, the new funding feature is currently only available to U.S. users. However, the exchange said it would be expanding to more countries “in the coming months.” As of the first quarter of 2021, Coinbase reported it had 6.1 million monthly active users, while PayPal recorded 377 million total users in 2020.

Both Coinbase and PayPal have made significant inroads into the crypto space in the last year, with the crypto exchange going public through a direct listing on Nasdaq earlier this month. In November, PayPal launched crypto services for its U.S. users, allowing them to trade up to $20,000 a week. The platform has continued to expand its crypto services following this offering, announcing in March its plans to allow U.S. customers pay in crypto at PayPal’s global merchants.

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Original article posted on the CoinTelegraph.com site, by Turner Wright.

Article re-posted on Markethive by Jeffrey Sloe

Bitcoin Pulls Off Nasty Head Fake

Leveraged Traders Getting Rocked As Bitcoin Pulls Off Nasty Head Fake, Says Veteran Trader Tone Vays

By Daily Hodl Staff • April 28, 2021 // BITCOIN // TRADING

Veteran crypto trader Tone Vays says that leveraged traders are getting crushed as Bitcoin launched a massive bear trap.

In a new strategy session, Vays takes a look at Bitcoin’s strong bounce from the $47,100 level and says the move was abrupt and largely unexpected.

“This is one of those classic head fakes, and this is a really nasty heady fake because it actually made a whole new swing low. I don’t like to use the word manipulation because I don’t think this is manipulation. I think this is just whales screwing with you. And the reason why I don’t call this manipulation is that just because someone has more money than you and is able to move the market, as long as they’re playing by the rules there’s nothing wrong with that.

So to me, I like to reserve the word manipulation for some kind of insider advantage or some kind of illegal activity. But if this was simply a guy or a few entities with money moving the market, then they have the money and power to move the market… It definitely is the Michael Jordan of head fakes, or the Allen Iverson of crossovers, either way, but this is a really nasty one.”

Vays highlights that Bitcoin’s unexpected bounce is a classic example of how difficult trading with leverage can be.

“The only way to hold through this insanity is by having like, less than 5x leverage, and even then, this is scary as hell if you’re long, and what’s happening right now destroyed you if you were short. The only people that were probably happy right now are the ones that are trading with under 3x leverage. So this goes to show you how challenging leverage is.”

The former Wall Street trader says the $57,000 level is the crucial price point for BTC to get over in order to maintain bullish momentum. Once BTC breaks that range, Vays says all-time highs are imminent.

“On a daily scale, I have a critical level of $57,000… And if we can get above $57,000, I think we’re going to get to $70,000 or $80,000 fairly quickly.”

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The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Bitcoin Pulls Off Nasty Head Fake

Leveraged Traders Getting Rocked As Bitcoin Pulls Off Nasty Head Fake, Says Veteran Trader Tone Vays

By Daily Hodl Staff • April 28, 2021 // BITCOIN // TRADING

Veteran crypto trader Tone Vays says that leveraged traders are getting crushed as Bitcoin launched a massive bear trap.

In a new strategy session, Vays takes a look at Bitcoin’s strong bounce from the $47,100 level and says the move was abrupt and largely unexpected.

“This is one of those classic head fakes, and this is a really nasty heady fake because it actually made a whole new swing low. I don’t like to use the word manipulation because I don’t think this is manipulation. I think this is just whales screwing with you. And the reason why I don’t call this manipulation is that just because someone has more money than you and is able to move the market, as long as they’re playing by the rules there’s nothing wrong with that.

So to me, I like to reserve the word manipulation for some kind of insider advantage or some kind of illegal activity. But if this was simply a guy or a few entities with money moving the market, then they have the money and power to move the market… It definitely is the Michael Jordan of head fakes, or the Allen Iverson of crossovers, either way, but this is a really nasty one.”

Vays highlights that Bitcoin’s unexpected bounce is a classic example of how difficult trading with leverage can be.

“The only way to hold through this insanity is by having like, less than 5x leverage, and even then, this is scary as hell if you’re long, and what’s happening right now destroyed you if you were short. The only people that were probably happy right now are the ones that are trading with under 3x leverage. So this goes to show you how challenging leverage is.”

The former Wall Street trader says the $57,000 level is the crucial price point for BTC to get over in order to maintain bullish momentum. Once BTC breaks that range, Vays says all-time highs are imminent.

“On a daily scale, I have a critical level of $57,000… And if we can get above $57,000, I think we’re going to get to $70,000 or $80,000 fairly quickly.”

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The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

VeChain Launches $1M Grant Program

VeChain Launches $1M Grant Program for its Enterprise NFT Ecosystem

JOHN P. NJUI   •   ALTCOIN NEWS   •   APRIL 28, 2021

  • VeChain (VET) Foundation has launched a $1 million grant program to build its NFT ecosystem
  • The program will fund NFT projects on VeChainThor such as marketplaces, token bridges, DeFi apps, open source tools and more
  • According to VeChain, enterprises will drive mass adoption of NFTs
  • Enterprise NFTs will be the result of the collaboration such enterprises and the NFT industry

The team at VeChain (VET) has announced the launch of a $1 million grant program to foster the development of its enterprise NFT ecosystem. The grant program is aimed at driving the mass adoption of NFTs created on the VeChainThor blockchain by attracting developers of NFT marketplaces, token bridges, DeFi applications, open-source tools and more.

How to Apply for the Grant, Funding Capped at $30k Per Project

Interested participants are invited to apply through VeChain’s Github repository which further breaks down the specific categories for the eNFT grant program as follows.

  • Decentralized applications (e.g., gaming, DeFi, NFT, etc)
  • Tools/libs for testing
  • Tools/libs for frontend development
  • Infrastructures (e.g., explorer, status dashboard, node service, etc)
  • Interoperability
  • Wallet integration
  • Enterprise applications
  • Research projects (e.g., tokenomics, governance, privacy, etc)

Each successful application stands the chance of getting a maximum amount of $30,000 in funding disbursed through Tether (USDT).

What is the Enterprise NFT Ecosystem on Vechain (VET)?

According to the team at VeChain (VET), enterprises will be a key driving force of NFT adoption going forward.

Therefore, there is a need for the development of an Enterprise NFT ecosystem on the VeChainThor blockchain. The ecosystem will bring together enterprises, developers, artists and creators.

The VeChain foundation further highlights the following three reasons to collaborate with enterprises in the NFT industry.

  • Enterprises will bring a level of quality to the NFT industry thus sustaining the ecosystem
  • Enterprises will make sure that the ownership of NFTs are authentic and enforced since their reputation is on the line
  • Enterprises have the global reach to bring new users to the NFT ecosystem

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

World’s Biggest Blockchain Deployment

“World’s Biggest Blockchain Deployment”: Ethiopian Government To Use Cardano’s Technology To Revamp Its Education System

By Brenda Ngari – April 27, 2021

Cardano developer IOHK has announced a strategic partnership with the Ethiopian government to use Cardano-based technology to revolutionize the nation’s education system.

Cardano’s Identity System To Be Rolled Out To 5 Million Ethiopian Students 

Based on the Atala PRISM framework, the identity solution will be deployed throughout Ethiopia in what will be the “world’s biggest blockchain deployment”. In particular, it will be used to create forgery-resistant records of academic performance across 3,500 schools and verify the grades of more than five million local students. The system will also create records of 750,000 teachers, allowing monitoring and lesson planning.

This means that the Cardano-based identity system will make it easier to authenticate university applications and check the validity of the students’ grades without depending on third-party agencies. Increasing transparency in the schools’ grading system may create more employment opportunities for rural Ethiopians and increase social advancement.

IOHK added in the announcement:

“This partnership is at the heart of Ethiopia’s Digital Transformation Strategy. IOHK has long recognized how developing world countries could uniquely benefit from blockchain, and this deployment is key in our vision for Africa.”

IOHK’s Grand Vision For Africa

IOHK touts Cardano’s Atala PRISM as a game-changer for the world’s second-most populous continent, Africa. Besides education, IOHK CEO and Cardano founder Charles Hoskinson has previously revealed plans to work with the Ethiopian government to overhaul other sectors, including transport, healthcare, and agriculture.

Hoskinson has also talked about creating a Cardano hub in Ethiopia’s capital Addis Ababa which will cater to other African nations like Kenya, Nigeria, and South Africa.

Suffice to say, the latest development is a dream come true for the Cardano community. It will not only open up Africa to progressive blockchain technology via Cardano but also help to bring Cardano mainstream. Meanwhile, the CEO believes these new deals and initiatives with African nations will bring millions of users into the Cardano ecosystem in 2021.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Cardano Will Integrate 5 Million Users

How Cardano Will Integrate 5 Million Users Into Its Platform With Ethiopian Deal

By Reynaldo Marquez – April 27, 2021 in Cardano Reading Time: 2min read

Charles Hoskinson gave new details on a very expected announcement in the Cardano community. The CEO of IOG uploaded a video on his YouTube channel and talked about the partnership with the Ethiopian government. The partners intend to “overhaul” the country’s education system.

The Ethiopian Embassy in the United Kingdom and its Ambassador Teferi Melesse Desta also shared the news via their Twitter handle. The government official called the partnership a “fantastic” development and a part of the country’s “Digital Transformation Strategy”. The embassy added:

IOG partners with Ethiopia’s Ministry of Education to create a #blockchain-based national student & teacher ID and attainment recording system to digitally verify grades, monitor school performance and boost nationwide education.

The cooperation will be based on IOG’s Atala PRISM ID solution. Thus, the country will create a record for 5 million students on top of Cardano’s blockchain. The record will be tamper-proof and secure with the platform. Additionally, authorities will be able to monitor, target, and distribute resources with the effectiveness of this solution.

Atala PRISM is said to be implemented in 3,500 schools and 750,000 teachers, per the data shared by the Ethiopian Embassy in the U.K. It will be launch with a supply equipment program for students, teachers, and key staff in the institutions. The ultimate goal is to make education more available, customized, and efficient.

Hoskinson highlighted that the partnership has been a 5-year effort. The inventor of Cardano has said in previous videos that Africa has the potential to outperform China’s economic growth. Now, Hoskinson said:

And throughout the coming 24 to 36 months we are going to be scaling up very rapidly throughout the whole continent. This means many new classes. This means new initiatives. New relationships and also developing our talent (…).

Cardano Reaches Major Milestone

Per a report by the news website CityA.M., Ethiopia is currently evaluating if they will adopt other IOG’s Atala products. These could include the PRISM platform to be used in many sectors across the country: agriculture, identity, supply chain tracking, and others. The report quotes John O’Connor, IOG’s African Operations Director, who said:

Ethiopia’s blockchain-based education transformation is a key milestone on IOHK’s mission to provide economic identities and employment, social and financial services for the digitally excluded. After five years of R&D, Cardano is now mature enough to underpin a blockchain solution which can scale to serve an entire national population. This project could light the touch-paper for a wave of third-generation blockchain innovation across Africa and the developing world.

ADA is trading at $1,30 with a 6.8% profit in the daily chart. The cryptocurrency seems to be reacting well to the announcement. However, IOG’s Africa Special will be held on April 29th and could reveal much more on this and other partnerships in the region.


ADA with moderate profits in the daily chart on IOG partnership. Source: ADAUSDT Tradingview

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The original article was written by Reynaldo Marquez and posted on NewsBTC.com.