U.Today – Popular blockchain tracker Whale Alert, which monitors enormous cryptocurrency transactions by enormous holders called whales, has detected a enormous transfer directed to the US exchange Coinbase (NASDAQ:).
This coincided with the significant price raise currently observed by the world’s largest cryptocurrency.
3000 BTC transferred to Coinbase
Whale Alert spotted an astonishing 3,000 BTC deposit hitting Coinbase. When the transaction was initiated – approximately two hours ago – this amount of cryptocurrencies was valued at $205,920,028.
Subsequently, the aforementioned data source also detected a transfer of 1,501 BTC (worth $103,243,667) transferred from one anonymous wallet to another.
Since Friday, October 25, the largest digital currency by market capitalization, Bitcoin, has surged 3.68%, rising from the $66,500 zone to $68,865 where it was changing hands at the time of writing. Bitcoin has increased by almost 2% in the last day.
Earlier last Friday, Bitcoin suddenly dropped by 2.57% following negative developments in the Middle East and news of the US government investigating the giant. The company’s CEO Paolo Ardoino denied the news reported by WSJ as counterfeit news.
MicroStrategy outperforms Bitcoin year after year
In a recent tweet, high-profile Bitcoin evangelist and founder of the MicroStrategy giant Michael Saylor shared data that shows MicroStrategy MSTR stock has outperformed BTC itself over the past four years.
Back in August 2020, Saylor’s company started purchasing BTC with its free cash reserves, and that’s how the company adopted its Bitcoin strategy. According to an infographic shared by Saylor, Bitcoin has since grown 51% annually, outperforming the Magnificent 7 (+28%), S&P 500 (+14%), real estate (+10%), gold (+7%), and bonds (- 5%).
Compared to Bitcoin, MSTR has shown 101% annual performance. MicroStrategy continues regular BTC purchases. It has issued convertible senior notes several times (this year and in 2023 combined) to raise nearly $1 billion from investors to buy more Bitcoin from the market. So essentially, MicroStrategy now acts like an unofficial ETF, as many MSTR buyers invest in the Bitcoins it holds, betting on its value rising in the near future.
