Some of the very first cryptocurrency adopters have expressed their reservations about the system. The Financial Times spoke with an anonymous individual known only as "Neil," who joined Coinbase, a then-obscure crypto firm, in 2014, just out of college. Neil, a computer science student, was initially intrigued by the concept of virtual money as a fun programming challenge. When you take your eyes off the screen, though, you'll notice falling merchant adoption, no indication of blockchain deployment or efficiency, and primarily just a slew of promotional events promising remedies for whatever ails you.
Other investors see this as an opportunity to buy the currency at a lower price. According to a statement released today, business intelligence firm MicroStrategy has purchased another 5,050 bitcoin, bringing its total holdings to 114,042 BTC. The company has continued to buy smaller amounts over time since making numerous large acquisitions at the conclusion of last year and the beginning of this year. At an average price of $48,098, this recent bitcoin boost cost the company $242.9 million. This indicates that the company purchased bitcoin before the September 7 price fall.
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