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In a significant shift of focus for its crypto-related products, VanEck has announced it will soon shut down and liquidate its Ethereum futures ETF, known as the VanEck Ethereum Strategy ETF (EFUT). This decision, unveiled on September 5, comes on the heels of the approval of VanEcks spot Ethereum exchange-traded product (ETP), reflecting a strategic […]
A nw rport from Rivr, top Bitcoin tchnology nd finncil srvics compny, prdicts tht U.S. corportions will significntly incrs Bitcoin doption. Th rport projcts tht in th nxt 18 months, bout 10% of Amricn businsss will invst prt of thir trsury rsrvs in Bitcoin, with th totl mount potntilly hitting $10.35 billion. This influx […]
The report claimed, a cash treasury supplemented with a 3% allocation to Bitcoin would have shielded companies from inflation since 2020.
Bitcoins monthly close could reverse a 6-month-long downtrend and signal traders intent to push BTC price to new highs.
Cryptocurrency ETFs saw inflows exceeding $20 billion in 2024, according to Morningstar.
The ETFs add leverage to MicroStrategys already levered-up Bitcoin strategy, and investors cant seem to get enough.
Inclusion could boost the industry. Anyone that owns an S&P 500 Index fund will own Bitcoin once MSTR makes it into the index.
MicroStrategy was shot into the limelight when it began publicly buying Bitcoin back in 2020. While it is not the only publicly listed company to do this, the companys aggressive Bitcoin strategy set it apart from the rest. Four years later, MicroStrategy is now the public company with the largest BTC holdings in the world, recording over $5 billion in profit so far. However, the profit on the BTC holdings is not the only positive that has come from the companys Bitcoin investment strategy. MicroStrategys Stock Price Blows Up MicroStrategys MSTR stock price has completed an incredibly successful year that has seen it perform the big hitters in the stock market. A year ago, the MSTR stock price was sitting at a low of $45. However, as the Bitcoin price recovered and the companys BTC portfolio grew, so did the companys stock price. Related Reading: Crypto Analyst Predicts What Will Drive The Ethereum Price Back Above $3,000 Again In only one year, the price surged more than 317% to reach a new all-time high of $192 back in March 2024, according to data from TradingView. This put it above its previous February 2000 peak of $139, making it its highest level in more than two decades. Interestingly, the surge to the $192 all-time high in March coincided with the the Bitcoin all-tine high of $73,750 in the same month. This suggests that the MicroStrategy stock price is closely correlated with the Bitcoin price performance. Its understandable given that Bitcoin has become the companys largest holdings, meaning that as the Bitcoin price rises, so does the valuation of the company, translating to an increase in the stock price. Currently sitting at $167 at the time of this writing, meaning its 16% down from its $192 all-time high. However, it is still 250% higher than its $45 price level a year ago. This puts it ahead of the likes of Apple which is up only 24% year to date and Amazon, with a 34% year-to-date increase. Even NVIDIAs outstanding performance falls behind MicroStrategy, with a 155% year-to-date increase. Padding Up With Bitcoin Despite being four years in, MicroStrategy is not letting up on its Bitcoin purchases, with major purchases this year. In 2024 alone, the company has bought 63,079 BTC which cost around $4.04 billion to acquire. The most recent purchase was on September 20, when former CEO Michael Saylor announced that the company had purchased 7,420 BTC for $489 million. This has brought the companys total BTC holdings to 252,200 for a whopping cost price of $9.9 billion. Related Reading: Dogecoin Eyes Bullish 50% Rally To $0.16, But Will A Crash Come First? Despite the already massive Bitcoin holding, accounting for more than 1.166% of the total supply, MicroStrategy plans to continue buying BTC. The company announced it was offering $700 million in convertible notes, which was later amended to $1 billion, the proceeds of which would be used to purchase more BTC. As for the companys plan for its massive BTC stash, Saylor has previously revealed that the company has no plans of selling soon. For now, the plan looks to be to buy as much BTC as possible to hold as a treasury asset. Featured image created with Dall.E, chart from Tradingview.com
Data from CoinGecko shows that the price of Bitcoin climbed above $65,000 on Friday for the first time since the beginning of August and now hovers at $65,778.
The stock performance of MicroStrategy, a business intelligence company, highlights the difference that adopting the Bitcoin strategy could make for…
The post Data Shows MicroStrageys Bitcoin Strategy is a Template Every Public Traded Firm Should Follow first appeared on The Crypto Basic.
The proliferation of institutional Bitcoin custodians creates opportunities for MicroStrategy, according to a Benchmark analyst.
An investor turns a $151.42 million Ether investment into $214.34 million during a two-year bear market by following the hodl strategy.
Stablecoin issuer Circle is moving forward with its public offering debut and plans to shift its headquarters to Wall Street in 2025.
Business intelligence firm MicroStrategy, led by Bitcoin (BTC) bull Michael Saylor, announced on Friday a successful $1.01 billion raise through the sale of convertible senior notes, a strategic move aimed at acquiring more BTC and redeeming higher-yielding securities. MicroStrategy Invests Additional $458 Million In BTC Of the funds raised, MicroStrategy allocated $458 million to purchase additional Bitcoin between September 13 and September 19, further bolstering its position as the cryptocurrency’s largest publicly traded corporate holder. As of September 19, the company reported holding approximately 252,220 Bitcoin, valued at around $15.8 billion. Related Reading: Analyst Predicts A Solana Price Crash To $80 If This Happens The convertible notes issued by MicroStrategy carry an interest rate of 0.625% and will mature in 2028. This marks the fourth time this year that the company has turned to the convertible note market to finance its Bitcoin acquisitions. In conjunction with the new issuance, MicroStrategy is redeeming $500 million of higher-interest 6.125% notes due in 2028, reflecting a strategic shift to lower borrowing costs while expanding its crypto portfolio. Co-founder and Chairman Michael Saylor has played a pivotal role in shaping MicroStrategy’s identity as a cryptocurrency investment vehicle since the company first ventured into Bitcoin in 2020. Under his leadership, the firm has transformed from a traditional enterprise software maker into a de facto crypto hedge fund, demonstrating a bold commitment to digital assets amid market fluctuations. MicroStrategy’s stock has also seen significant gains this year, more than doubling in value and outperforming Bitcoin’s approximately 50% increase over the same period. The latest acquisition follows MicroStrategys earlier purchase of 18,300 Bitcoin, valued at roughly $1.11 billion last week. Bitcoin Price Analysis Following what has been deemed a bullish catalyst, the broader cryptocurrency market has responded positively to the US Federal Reserve’s announcement on Wednesday of a 0.50% basis point rate cut. This decision contributed to the recovery over the past week after Bitcoin’s price retraced to as low as $52,640 on September 6. Bitcoin has managed to reclaim the $63,000 mark, aiming to consolidate above this critical level for the last 24 hours. Market analyst Ali Martinez points out that this price point coincides with Bitcoins 200-day simple moving average (SMA) on its BTC/USDT daily chart, which Martinez identifies as a pivotal threshold for the anticipated bull run in the latter part of the year. Historically, failures to maintain this support level have led to significant corrections, as observed in 2020, 2018, and 2014. Martinez warns that a rejection at this level could signal trouble for Bitcoins future price trajectory. Related Reading: XRP Price Surge Could Hit 9,470% Analyst Predicts $27 Target In Bold Forecast To mitigate the risk of a sharp decline, key support floors have been spotted at $61,700 in the short term, with the $60,000 mark serving as an essential threshold to prevent further price drops. In addition, introducing new liquidity into the market could significantly boost the Bitcoin price, as the Fed’s decision may boost investor confidence in riskier assets such as BTC. A successful break and consolidation above $63,000 could set the stage for a potential challenge of the next resistance level at $64,000 in the coming days. Featured image from DALL-E, chart from TradingView.com
MicroStrategy, the worlds largest corporate holder of Bitcoin, announced its latest acquisition of the markets largest cryptocurrency.
MicroStrategy, in a Sept. 20 filing with the US SEC, declared the acquisition of 7,420 BTC for $458.2 million at an average price of $61,750 per Bitcoin between Sept. 13 and Sept. 19. According to the SEC filing, the firm used proceeds from its recent senior notes offering, which raised $1.01 billion, to fund the […]
The post MicroStrategy raises $1 billion via latest debt offering, reveals it bought 7,420 Bitcoin this week appeared first on CryptoSlate.
MicroStrategy purchased an additional $489 million of Bitcoin, swelling its corporate Bitcoin treasury to over 252,000 BTC worth nearly $10 billion. The company's Bitcoin strategy aims to boost returns and hedge against inflation.
Bitcoin's price gained almost 8% in the past week on the back of exciting news from the US Federal Reserve and MicroStrategy.
MicroStrategy has completed a $1.01 billion convertible note offering, allocating proceeds for Bitcoin purchases and debt repayment.
Japanese investment firm Metaplanet has announced a partnership with SBI VC Trade, a subsidiary of financial services behemoth SBI Group. Partnership will help boost Metaplanet’s Bitcoin strategy, including compliance. Metaplanet has acquired 360 Bitcoin (BTC) as it targets becoming ‘Asia’s MicroStrategy’ In an announcement on Sept. 2, Metaplanet said its collaboration with SBI VC Trade […]
The post Metaplanet partners with SBI VC Trade to enhance Bitcoin strategy appeared first on CoinJournal.
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