Earlier this week Bitcoin (BTC) bulls and crypto investors were thrilled by the news that MicroStrategy, a Nasdaq-listed business intelligence company worth $1.2 billion, had formally adopted Bitcoin as its primary reserve asset by purchasing 21,454 BTC ($250 million).
This led the majority of top crypto analysts and industry folk to post uber-bullish statements on Twitter and for many this confirmed their belief that Bitcoin is in the early stages of a bull market.