Recently, the news of MicroStrategy buying an additional 14,620 Bitcoins broke on the internet.
Broke the Internet, really?
When you wrote this, you are helping to exaggerate impacts from MicroStrategy purchase.
We've always known MicroStrategy as a company that loves investing in Bitcoin since August 2020. This sounds more like great news for the Bitcoin community, as it feels like more adoption is taking place, but it is done by a certain group of people.
We can not deny contributions of Michael Saylor and MicroStrategy for this market but Bitcoin adoption comes from many people, developers, investors, traders, builders and more. MicroStrategy and institutional investors are one of contributors for Bitcoin adoption.
I sense that the Bitcoin market and other digital currencies might be affected negatively when these companies decide to sell a very large portion of their accumulated assets.
Before talking about their selling impacts on the market, you must think of their buying impacts which should be big and Bitcoin price will be benefited from it as well as trading volume will increase a lot with massive new capital from them.
The bottom line is they won't sell immediately after buying or several weeks later. It would be months or some years and with this long period, I really expect positive impacts are great enough to blur and cover all negative impacts when they sell.
Like if MicroStrategy sell their bitcoins in 2024 or 2025, will Bitcoin drop back to $13,000?
I believe it will not, history proves that, Bitcoin makes its new highs for Yearly Min Price over years.