Investors are currently suffering badly from the state of the cryptocurrency market. While on one hand investors are pulling their hands off crypto investments, on the other hand crypto platforms are also taking steps like retrenchment of employees to minimize their losses. But on the contrary, Michael is referring to his own bitcoin strategy. In his recent tweet, he has asked investors to be patient.
stay humble. stack sats.
— Michael Saylor⚡️ (@saylor) June 28, 2022
Currently, the price of bitcoin may have fallen to its two year old level but MicroStrategy continues to buy bitcoin. Despite the market crash, the company hasn’t shied away from its strategy of investing in bitcoin. Michael is also advising his followers not to think too much about the market conditions and keep increasing the investment. But it’s also worth noting that not every company, like MicroStrategy, is large enough to handle the huge decline of crypto. The current position of the microstrategy has reached its margin level. But, if the price of bitcoin still falls after this, the company can still handle the situation.
MicroStrategy continues to strengthen the position through funding. Even if the price of bitcoin drops to $10,000, it can still hold bitcoin. According to Seller’s Portfolio Tracker, bitcoin should be below $30,000 for the company to be profitable. Recently, on April 5, the company revealed another of its bitcoin purchases in which it bought bitcoins worth $4,167.
As cryptocurrencies continue to fall, companies that provide trading services in cryptocurrencies range from laying off employees to removing altcoins from their portfolios. Crypto.com has removed 15 altcoins, including Dogecoin (DOGE) and Shiba Inu (SHIB), from its Earn program. Crypto.com offers 10 percent returns on stable coins and 14.5% returns on cryptocurrency deposits under its Earn program. Under this program, the company supports more than 40 assets, through which users can earn by investing in the company.
Tezos (XTZ), Maker (MKR), Flow (FLOW), Kyber Network Crystal v2 (KNC), EOS (EOS) are on the list of 15 altcoins, including Dogecoin (DOGE) and Shiba Inu (SHIB), to be removed from the company’s portfolio. , OMG Network (OMG), ICON (ICX), Compound (COMP), Gas (GAS), Stratis (STRAX), and Bancor (BNT), Beefy Finance (BIFI), Ontology Gas (ONG).