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A throwback to June when Microstrategy bought additional 13,000 Bitcoin by mistakili

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· @mistakili · (edited)
$27.42
A throwback to June when Microstrategy bought additional 13,000 Bitcoin
Hi guys, It feels really good to be free from the shackles of China FUD against Bitcoin, the China move to ban Bitcoin mining will be remembered not for the ban but for the freedom from the constant threat to the decentralization of Bitcoin mining. 

May was such a month! Every bad FUD that could be used against Bitcoin was milked to the fullest, starting with Elon Musk declaring that mining Bitcoin was bad for the environment due to high rate of carbon emission to the mining ban from China. 

Now, Bitcoin doesn’t care much for whatever goes on in China anymore, majority of the energy used by Bitcoin mining is now clean and mining has become more decentralized. Institutional investments are growing everyday. 

![83678A74-1B6F-4076-9509-10E379641CA5.jpeg](https://images.hive.blog/DQmUuEcmTeaDwwVCL2ua2FduLsXbBrakkxffGrBeinqhNxV/83678A74-1B6F-4076-9509-10E379641CA5.jpeg)


Take Microstrategy as an example, during the dip, Microstrategy invested close to $500m into Bitcoin at the price of $37k, today that investment is worth around $650m making $150m in profit in less than 3 months. 🤯🤯🤯

When people were extremely fearful, the wise ones were buying, you only lose when you stop playing by selling during a dip at loss, diamond hands, hodl, buy the dip, some of us could not get tired of chanting these mantras, it was quite a painful sight to see people capitulating and selling their bitcoins at loss and calling it quits. Mehn, a lot of people still have so much to learn in this space. 

What really puts me off is that most people who sold off their bitcoins bought back fiat, same fiat that is ridden with inflation, same broken fiat that is on a steady downtrend when put against purchasing power, same fiat that they don’t really own or control, do you know how many people said El Salvador was making a mistake by making Bitcoin a legal tender? A lot! Can they say that again now?

Now my question is where are all those people? Where’s all that FUD now that Bitcoin has recovered to $50k? Anyway, like Micheal always states, present price fluctuations don’t matter to him, Bitcoin could go back to $30k for all he cares, let’s check this investment move back in another 5 years. 

*Good things happen to those who hodl*....history confirms. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mistakili/a-throwback-to-june-when-microstrategy-bought-additional-13-000-bitcoin)
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vote details (331)
@alt-runner ·
even now there is no more of Elon Effect after the price rise. everyone seems to be already over with his tweet.
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@mistakili ·
Well, true that. Until he makes an announcement that Tesla is going fully into Bitcoin! Then the world will go full on crazy 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mistakili/re-alt-runner-4aruxe)
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