3 companies are buying more Bitcoin while the price stays below $30,000. Will they next buy Bitcoin Minetrix?
Despite the fact that Bitcoin's price has fallen below $30,000, some significant corporations have continued to accumulate the cryptocurrency.
These firms remain optimistic about Bitcoin's long-term prospects, viewing its current low trading price as a buying opportunity.
In this post, we explore three corporations who bought more BTC in 2023 before debating whether they should acquire Bitcoin Minetrix (BTCMTX) next.
1. MicroStrategy
To start off, we have a commercial software company called MicroStrategy. Over the past few years, they have been one of the most significant buyers of bitcoin.
MicroStrategy had a massive 152,800 BTC in its possession as of the first of August, having acquired 12,800 BTC in the preceding quarter.
MicroStrategy's Bitcoin assets were acquired at an average cost of $29,672 per BTC, as at the time of the company's earnings report for the second quarter of 2023.
Michael Saylor, CEO of MicroStrategy, frequently supports Bitcoin in the media and believes it is better to existing FIAT currencies.
MicroStrategy has even issued convertible bonds and senior notes under Saylor's leadership to obtain funds for the purchase of more Bitcoin.
Although this crypto-focused approach hasn't pleased all of MicroStrategy's shareholders, the company's share price has increased by more than 245% since it began purchasing BTC, indicating that it has gained favor with certain investors.
2. Galaxy Digital
Galaxy Digital, an asset management firm specialized in digital assets and blockchain technologies, has also started purchasing more Bitcoin in 2023.
Galaxy Digital supposedly has 8,100 BTC in its control as of April 2023, with $2.5 billion in assets under management (AUM).
Christopher Ferraro, the firm's Chief Investment Officer, has previously stated his optimism about Bitcoin's future, citing institutional interest and the probable approval of spot BTC ETFs as major catalysts going forward.
In addition to Bitcoin, Galaxy Digital has invested in other cryptocurrencies through its various funds, with an emphasis on decentralized finance (DeFi) and Web3 infrastructure.
This diverse approach has enabled the firm to offset some of the dangers associated with merely investing in BTC while also exposing it to other high-growth areas of the crypto world.
3. Marathon Digital Holdings
In final analysis, Marathon Digital Holdings is yet another firm that will have accumulated BTC by the year 2023. However, this will not be the case in the same manner as MicroStrategy and Galaxy Digital.
The massive hash rate that Marathon Digital possesses enables the company, which is in the business of mining Bitcoin, to generate a vast quantity of Bitcoin on a monthly basis.
The corporation reported unrestricted ownership of 12,964 BTC as of August 1, amounting to about $379 million.
Furthermore, Marathon Digital has been significantly increasing its operational capacity this year, even starting a joint venture in Abu Dhabi to mine more BTC.
This continuing increase in BTC production reflects the company's dedication to Bitcoin's long-term survival - and it might pay off if the coin's price breaks above the critical $30,000 mark in the coming months.
Investors Interested in Bitcoin Minetrix's Stake-to-Earn Model, Which Helps Raise $180,000 in Pre-Sale
While these three companies continue to accumulate Bitcoin, a new cryptocurrency known as Bitcoin Minetrix (BTCMTX) is gaining traction during its limited-time presale period.
This project provides a "Stake-to-Mine" method that enables investors to earn BTC without the need for sophisticated mining hardware.
The makers of Bitcoin Minetrix hope to make BTC mining more accessible and efficient, particularly for common crypto enthusiasts who face significant obstacles to entry when it comes to Bitcoin mining.
According to the whitepaper of Bitcoin Minetrix, the procedure is carried out using BTCMTX, the platform's native cryptocurrency.
Users can purchase BTCMTX tokens, stake them for cloud mining credits, and then burn them for cloud mining power, which can be used to earn BTC passively.
This entire process is managed by Bitcoin Minetrix's user-friendly interface, which will be accessible for download on smartphone devices as well.
Despite the fact that the network is still in construction, Bitcoin Minetrix is holding a limited-time presale for BTCMTX, allowing early investors to purchase tokens for $0.011.
Since the presale began, almost $180,000 has been raised, and the official Telegram channel has seen significant membership growth.
In a recent video, YouTube star Michael Wrubel, who has over 310,000 subscribers, supported BTCMTX.
Although there have been no reports of MicroStrategy, Galaxy Digital, or Marathon Digital Holdings purchasing BTCMTX, the token's growing popularity and unique value proposition may attract the interest of these companies in the future.
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