By Harry - Crypto Specialist - 01-12-2021
Mobile software firm MicroStrategy has once again been buying Bitcoin (BTC) in bulk. The company has been continuously purchasing the cryptocurrency giant since its first significant transaction in August 2020. Due to MicroStrategy’s frequent acquisitions for BTC, it has now held more Bitcoin than any other company or holder in the world. The company currently holds 121,044 BTCs with an estimated value of $7 billion at the time of writing. The latest total value comes after MicroStrategy’s recent purchase of 7002 BTC, a value of $414.4 million at the time of buying in November 2021. The CEO of MicroStrategy is long-time Bitcoin fan Michael Saylor. Saylor’s strategic investment moves to acquire more Bitcoin has meant that MicroStrategy now holds 28% of all BTC in circulation.
As previously reported by Bitcoin Magazine, MicroStrategy began their Bitcoin investing back on August 11, 2020. The initial purchase was valued at $250 million, the large transaction from the business intelligence company turned heads towards the crypto scene. In order to acquire more Bitcoin investments, MicroStrategy had restructured a new treasury reserve policy just a month after its first BTC purchase. Shortly the new policy was in place, MicroStrategy then bought 16,796 BTC, valuing at around $175 million at the time. The next time they acquired BTC was December 21, 2020, as the company had bought a further $650 million worth. MicroStrategy then went on to buy $1 billion worth in February 2021, and then another $414.4 million purchase in November 2021.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards