Wednesday, 17 April 2024
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should you invest more in crypto?

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…

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