Amid the chaos that wiped out more than $100 billion from the cryptocurrency market overnight, there was an epic price drop of Bitcoin BTC/USD, which hit a low of $15,742 on Wednesday. According to one report, 95% of Coinbase Global Inc COIN Users buy those world’s largest digital currency.
“Currently, 95% of Coinbase users buy bitcoin. In other words, 95% of Coinbase customers have increased their net position in Bitcoin through trading in the last 24 hours report specified.
Bitcoin is up almost 4% around the $17,800 mark in the last 24 hours at the time of writing.
Keep Buying Bitcoin Dips: Founders of MicroStrategy
In the meantime, MicroStrategy Inc MSTR Founder and Executive Chairman of the company Michael Sailer said the company’s strategy of continuing to buy bitcoin dips has paid off for shareholders, with the company’s shares up 38% at the close yesterday.
He went on to say that while the S&P was down 12%, the NASDAQ was down 6%, gold was down 16% and bonds were down 21%, MicroStrategy’s performance outperformed any major technology company.
“We beat Apple, Google, Microsoft, Amazon and Netflix. And yes, it’s a roller coaster. But our shareholders are winning and we will stick with this strategy because it works for us. And our belief is unshakable,” Saylor said. Speaking of with CNBC.
earlier this year Gasoline Livesailer said“If you’re trying to time the market, you’re going to get very frustrated,” and that his company had only one strategy — to buy and hold Bitcoin.
Coinbase CEO Slams SEC
coin base chairman Brian Armstrong meanwhile, it was attacked at the Securities and Exchange Commission (SEC) for failing to provide regulatory clarity that caused 95% of trading activity to be offshored.
“FTX.com was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to…
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