The price of Bitcoin has begun to consolidate over the past few days after a decline of 22.3 percent throughout 2022. As of today, Bitcoin is trading for USD 36,135 or around Rp. 518.4 million (assuming an exchange rate of Rp. 14,347 per US dollar) with an increase of 1.7 percent over the last 24 hours.
The asset fell to a six-month low around $33,500 in late Monday trading, but has recovered somewhat since then. Bitcoin price is now nearing a tipping point after the formation of a large 'double top' chart pattern. This can be a cause for concern for some large corporate investors.
Reporting from Yahoo Finance, Thursday (27/1/2022), software company Michael Saylor MicroStrategy is the largest corporate Bitcoin holder according to BitcoinTreasuries. This business intelligence firm holds 124,391 BTC worth around USD 4.5 billion at current prices.
MicroStrategy (MSTR) bought its first BTC in August 2020 when the asset was trading at around USD 11,500 but the company has made several additional purchases in 2020 and throughout 2021.
Tesla (TSLA), which saw its share decline this week, is the second largest Bitcoin holding company with 43,200 coins worth an estimated $1.56 billion.
It came in around the same time last year when BTC was hovering around USD 32K so the profit margins there pretty much evaporated and the company was close to break even.