Michael Saylor, CEO of MicroStrategy (NASDAQ:MSTR), is well-known to anybody who frequently follows the bitcoin news. In order to make the firm less appealing to hostile takeovers, he made sure that it had been purchasing bitcoin for a few years in his previous role as CEO.
At the same time, Saylor believes that BTC is a wise investment for the future since, in his opinion, the value of this cryptocurrency will keep rising. Even if the current bitcoins held by MicroStrategy are currently above 130,000, the software developer is not the largest whale.
FUN FACT: Government of China🇨🇳 is a crypto whale.
Chinese authorities seized 194k BTC, 833k ETH, and others from the PlusToken scam in 2019. They forfeited these $6 billion-worth assets to the national treasury.
— Ki Young Ju (@ki_young_ju) November 2, 2022
China has a far larger wallet with a holding of 194,000 BTC. The Chinese government has not, however, purchased the cryptocurrency, in contrast to MicroStrategy. Instead, according to Ki Young Ju, CEO of CryptoQuant, it is a digital asset grab associated with the 2019 PlusToken hoarding.
This idea, which was created in 2018 as a Ponzi pyramid, was popular in Asia since a 30% return distracted many investors from the risks.