More than 302 million USD Bit were purchased additionally in the context of declining prices.

Both retail investors and MicroStrategy have invested heavily in Bitcoin , taking advantage of its recent price decline. In total, their investment exceeds $302 million, demonstrating a strongly optimistic stance despite market volatility.

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Investors buy more Bitcoin when the price drops

MicroStrategy bolstered its Bitcoin portfolio by adding 169 BTC worth $11.4 million in July. This purchase brings the company's total Bitcoin holdings to 226,500 BTC, currently worth about $14.6 billion. MicroStrategy spent $8.3 billion to buy these BTC at an Medium price of $36,821.

Phong Le, CEO of MicroStrategy, expressed continued optimism about Bitcoin's potential.

“On the adoption front, we are optimistic with improved understanding of Bitcoin and growing support for the ecosystem from politicians and partisan organizations at the 2024 Bitcoin Conference in Nashville,”

Le said .

The community continues to praise MicroStrategy and their co-founder, Michale Saylor, for their bold Bitcoin strategy. However, the company reported significant financial losses, with a net loss of $102.6 million for the second quarter of 2024.

MicroStrategy is not the only entity betting big on Bitcoin. According to Spot On Chain, a retail investor took advantage of the market drop by transferring 4,600 BTC, worth $291 million, from the Bitfinex exchange to a new wallet. The move comes as Bitcoin temporarily fell to $62,300 on Thursday before recovering quickly. The price recovery points to extreme volatility in the cryptocurrency market, bringing both risks and opportunities.

Over the past 24 hours, Bitcoin has experienced high volatility, initially falling to $62,300, then rising to $65,600 and finally stabilizing around $64,500. As a result, the market has seen widespread liquidations affecting many trading positions. Data from Coinglass shows that $284.63 million worth of cryptocurrency investor positions were liquidated during this period, affecting nearly 100,870 traders.

Despite these short-term fluctuations, industry leaders' long-term views on Bitcoin remain optimistic. Jan Van Eck, CEO of VanEck, an asset management company, predicts that Bitcoin could eventually be equivalent to half the market Capital of gold. This estimate would value Bitcoin at around $350,000.

“In my opinion, there is no doubt that Bitcoin is being accepted like gold. “Obviously,”

Jan Van Eck said .

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