MicroStrategy now holds over 1% of the total BTC supply: should you invest more in crypto?

Key takeaways

• MicroStrategy has purchased 9,245 bitcoins and now holds more than 1% of the total BTC supply.

• Bitbot has now raised more than $1.1 million as its sixth presale stage draws closer to an end. 

MicroStrategy now holds more than 1% of the total 21 million BTC supply

Michael Saylor-led MicroStrategy has purchased an additional 9,245 BTC for $623M. This latest development means that the software company now holds 214,246 bitcoins, which is more than 1% of all the 21 million of the tokens that will ever exist.

The company paid approximately $7.53 billion for its BTC stash at an average of $35,160 per coin. MicroStrategy took advantage of the dip as Bitcoin has been underperforming in recent days. At press time, the price of Bitcoin stands at $61,908 per coin. 

What is Bitbot?

While the crypto market is experiencing a correction, investors continue to push funds into projects still in presale. A benefactor of this gesture is Bitbot, a unique Web3 project that seeks to provide excellent services to cryptocurrency traders. 

Bitbot is a Telegram trading bot that allows traders to gain access to some exciting features that would help them with their cryptocurrency trading journey. According to their whitepaper, Bitbot allows users to trade cryptocurrencies via their cold wallets on Telegram. The project is leveraging Telegram’s position as a leading social media platform for crypto users.

Bitbot’s trading tool will come with several features that will help traders execute trade transparently and securely. These features are usually available for institutional investors but, Bitbot will make it easy for retail traders to use. 

The project intends to take advantage of the growing trading volume in the cryptocurrency market to establish itself as a leading trading tool. Bitbot could provide services to retail and institutional traders in the cryptocurrency market. 

Bitbot’s features benefit retail traders

While several trading tools are currently available to institutional investors, Bitbot is mostly targeting retail traders. Its Telegram trading tool will focus on offering tech-savvy features to ease the trading process for users.

Bitbot’s primary focus will be on the security of user assets. The tool will use the Knightsafe feature to offer a self-custody solution, mitigating the typical risks associated with Telegram trading. 

Additionally, Bitbot will integrate anti-MEV and anti-rug solutions to help users protect their assets. With these features, traders can protect themselves from bots artificially pumping transaction costs and block scam projects.

Also, Bitbot is working on integrating an ultra-flexible wallet management powered by non-custodial API technology into its tool. This technology will provide an added layer of security to ensure the safety of user funds. 

Finally, the copy trading feature on Bitbot will help new traders navigate the market and gain expertise, Bitbot will also launch a copy trading feature. This feature will enable novice traders to copy the trades of the strongest-performing wallets based on on-chain activities.

Bitbot’s presale surpasses $1.1 million

The Bitbot presale is progressing excellently and it is currently in its sixth stage. So far, Bitbot has raised $1.1 of the required $1.3 for this stage. As the presale grows, it indicates rising interest from investors. 

Currently, the $BITBOT token is going for $0.0128 but is set to increase to $0.0134 once the seventh round commences. In terms of tokenomics, the development team clarified that they would hold 20% of the total token supply and use it to fund ongoing development. Furthermore, 14% of the total token supply is allocated to marketing & CEX listings. Also, another 3% is allocated to exchange liquidity provision.

Click here to read more about Bitbot’s upcoming presale.

Should you buy the BITBOT token now before the price increases?

The Bitbot presale is moving fast thanks to the growing interest from investors. The presale is the opportunity to purchase a token at a discount before they get listed on cryptocurrency exchanges. 

So far, Bitbot’s presale is going excellently and its token could rally higher once it gets listed on CEX and DEXs. If BITBOT gains the right level of adoption, it could be one of the biggest winners in this bull cycle. The project and its token could take advantage of the rising trading volume spurred by the ongoing bullish cycle. 

The post MicroStrategy now holds over 1% of the total BTC supply: should you invest more in crypto? appeared first on CoinJournal.

from CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison https://ift.tt/bPydrSw