$BTC MicroStrategy Being Considered As an Investment Fund (Due to Its Heavy #bitcoin Holdings)
On January 15, several reports pointed to the direction of MSCI, an index provider, and its reassessment of #MichaelSaylor #MicroStrategy as an Bitcoin Fund.
This came about as a result of a strong focus on digital assets.
While the company earlier registered, operated, and traded as a traditional software, MSTR, its stock ticker has been trading along the price movements of Bitcoin rather than competitor enterprise software.
What does this mean?
Positives - MicroStrategy's heavy digital assets portfolio could trigger huge institutional demand for cryptocurrencies with strong infrastructure and products. This could bolster the market.
Negatives- On the other, categorizing them as an investment fund could trigger large selling by index trackers, exchange-traded funds (ETFs), and passive funds.
Coincidentally, MSTR stock is shown about 3% while BTC price is also down about 1% which is still within range.
As of this publication, MicroStrategy held 687,410 BTC and looks forward to adding more on the back of the #MarketRebound
