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How MicroStrategy fared after Michael Saylor’s Bitcoin Conference 2024 announcement

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MicroStrategy’s partnership announcement boosts Bitcoin by over 4% to $67K.
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How MicroStrategy fared after Michael Saylor's Bitcoin Conference 2024 announcement
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  • Saylor announced MicroStrategy’s partnership with Bitcoin Magazine to promote corporate Bitcoin adoption.
  • BTC rose over 4% to $67K, despite MicroStrategy’s stock dropping 3.96%.

The Bitcoin [BTC] Conference 2024 has already showcased significant developments in the crypto world. One such highlight was Michael Saylor’s announcement of a partnership between MicroStrategy and Bitcoin Magazine.

A new collaboration

This collaboration led to the launch of “Bitcoin for Corporations,” a key initiative aimed at promoting BTC adoption in and around the crypto space. 

In a press release dated the 25th of July, Bitcoin Magazine outlined the purpose of the collaboration and explained,

“This strategic partnership aims to provide comprehensive resources and educational content to corporate leaders, underscoring a joint commitment to fostering Bitcoin adoption and education on a global scale.”

MicroStrategy’s Bitcoin accumulation

Saylor is a long-time BTC maximalist and has consistently championed Bitcoin through his company, MicroStrategy.

This new collaboration marked another significant step by Saylor and MicroStrategy toward advancing Bitcoin adoption.  Saylor said, 

 “By combining our expertise, resources and reach, along with Bitcoin Magazine we aim to create a robust platform that educates and supports corporations in implementing Bitcoin strategies.”

This move was also well-received by the crypto community, as evidenced by a comment from X (formerly Twitter) user Sweep, who said,

“Collaboration over competition. Love to see it.” 

Echoing this sentiment, Tomi Point commented,

“That’s the way @saylor. One by one !! #Bitcoin” 

Known for its aggressive BTC accumulation strategy, MicroStrategy recently announced that it he 226,331 BTC as of the 24th of June. 

Market trends

Strangely, this news negatively impacted MicroStrategy’s stock price, which had been down by 3.96% in the past 24 hours.

Meanwhile, BTC saw a rise of over 4%, trading at $67K at the time of writing as per CoinMarketCap. 

Therefore, believing in the long-term potential of BTC, Moustache exclaimed, 

Moustache

Source: Moustache/X

 

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Ishika is a graduate of Political Science from the University of Delhi. From writing content as a hobby to now pursuing it as a professional career, she has been living and breathing content all her life. Her interests lie in making sure articles are very digestible to a common reader, despite all its technicalities and jargons.
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