MicroStrategys Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition

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

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MicroStrategy adds 18,300 Bitcoin, now holds $14.14B worth of BTC

MicroStrategys $1.11 billion Bitcoin purchase was funded by selling over 8 million company shares through a sales agreement.

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MicroStrategy Buys Additional 11,930 BTC, Fibonacci Analysis Hints At $160K Bitcoin Price Peak

Bitcoin (BTC), the leading cryptocurrency, has regained momentum, bouncing off a weekly low of $64,000 to find support above $65,000, halting last week’s downtrend. This price recovery may be due to another significant investment round by business intelligence company MicroStrategy, led by Bitcoin bull Michael Saylor.  The company announced on Thursday the acquisition of an additional 11,931 BTC valued at approximately $786.0 million, further solidifying its position as a major institutional holder of the digital asset. MicroStrategy’s Bitcoin Holdings Surge To Nearly $15 Billion MicroStrategy’s Chairman and Co-founder, Michael Saylor, revealed the latest acquisition in a social media post. The company purchased 11,931 Bitcoin between April 27 and June 19, utilizing proceeds from convertible notes and excess cash at an average price of $65,883 per Bitcoin.  Notably, the recent purchases increased MicroStrategy’s overall Bitcoin holdings to an impressive 226,331 BTC, acquired at a total cost of $8.3 billion, currently valued at approximately $14.9 billion. Related Reading: Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder Saylor’s interest in Bitcoin dates back to 2020, when he began purchasing the cryptocurrency as a hedge against inflation and an alternative to holding cash. Since then, Bitcoin has experienced substantial growth, appreciating around 600% since Saylor’s initial investments.  The recent purchase by MicroStrategy comes at a time when market sentiment towards Bitcoin is mixed. Market intelligence platform Santiment reports that the community is “mainly fearful” or disinterested as Bitcoin’s price hovers between $64,000 and $65,000.  However, Santiment suggests that BTC trader fatigue, combined with whale accumulation exemplified by MicroStrategy’s latest acquisition, often leads to price bounces that reward the patient, as seen in the image above.  BTCs Cycle Top To Reach New Heights Despite the current mixed sentiment in the market, most experts and analysts are forecasting a cycle top for Bitcoin beyond the current all-time highs. Market analyst Crypto Con recently used Fibonacci retracements to forecast conservative and less conservative potential cycle top targets. According to Crypto Cons analysis, the .618 Fibonacci retracement level has proven reliable for previous Bitcoin cycle tops. Extension levels can be derived by retracing from the cycle bottom to the top of the first move. The cycle tops of 2013 and 2017 were predicted at 4.618, while the 2021 top was forecasted at the 5.618 level.  For the current cycle, the conservative target for the cycle top is $106,000, while the less conservative target stands at $161,000, according to Crypto Con. Related Reading: SEC Drama Fuels XRP Rally: Open Interest Skyrockets Adding to the positive sentiment, wealth management firm Bernstein has made bold predictions for Bitcoin’s future price trajectory. Despite arguments from bears that the Bitcoin ETF trade is over and early allocations were driven by retail investors, Bernstein holds a different viewpoint.  The firm emphasizes that Bitcoin ETFs are on the verge of approvals at major wirehouses and large private bank platforms in this year’s third or fourth quarter. These potential approvals and institutional interest act as a catalyst for adoption. Bernstein expects Bitcoin to reach a cycle high of approximately $200,000 by 2025, $500,000 by 2029, and an impressive $1 million by 2033. The firm asserts that institutional investors are evaluating “net long” positions, indicating a growing interest in the cryptocurrency. At the time of writing, BTC has limited its losses in the 7-day time frame to 3.6%, resulting in a current trading price of $65,170 for the largest cryptocurrency on the market.  Featured image from DALL-E, chart from TradingView.com

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Metaplanets $21M Bond Sale Accelerates Ambitious Bitcoin Acquisition

Metaplanet Inc., a Tokyo-based investment firm, continues to advance its aggressive BTC acquisition. The company intends to raise $21.25 million from a new bond sale to finance more purchases of Bitcoin. The bonds will not accrue interest and will be issued at a discount with the redemption period on November 9. This is the companys […]

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Microstrategys Bitcoin Portfolio Value Soars to $13.2 Billion, Marking a 116% Gain

According to the latest figures, Microstrategy’s investment in bitcoin has doubled, showing a 116% increase after the cryptocurrency’s value experienced a significant rise this past week. The company, specializing in business intelligence, has acquired a total of 193,000 bitcoins at an expenditure of $6.122 billion, with the current market value of their holdings soaring to [...]

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MicroStrategy Increases Bitcoin Bet With $822M Purchase, Adds 12,000 BTC To Treasury

As Bitcoin (BTC) continues its unprecedented uptrend, surging to a new all-time high (ATH) of $72,300, software company MicroStrategy remains steadfast in its vision. It is reaping substantial rewards from its strategic investment in the largest cryptocurrency in the market.  MicroStrategy, led by renowned Bitcoin supporter and former CEO Michael Saylor, recently made a major acquisition, further solidifying its position in the digital asset market. MicroStrategy Bitcoin Investment Pays Off According to a filing with the US Securities and Exchange Commission (SEC), MicroStrategy acquired approximately 12,000 BTC between February 26, 2024, and March 10, 2024, for approximately $821.7 million in cash. The average purchase price per Bitcoin was $68,400.  Additionally, MicroStrategy recently completed an offering of convertible senior notes due 2030, raising $800 million in funds. With this latest acquisition, MicroStrategy’s Bitcoin holdings now stand at a staggering 205,000 BTC, acquired for $6.9 billion. Related Reading: Record $1 Billion In Shorts Risk Liquidation If Bitcoin Hits This Price MicroStrategy’s stock trades at $1,557, representing a remarkable 9% gain within 24 hours. The company’s shares have demonstrated a sustained and continuous upward trajectory since February 26, coinciding with Bitcoin’s $50,000 consolidation phase breakthrough.  Over two weeks, Bitcoin surged to its present trading price, establishing a notable correlation between the leading cryptocurrency and MicroStrategy. This correlation has further solidified the company’s strategy and contributed to its stock’s performance. MicroStrategy’s strategic investment in Bitcoin has yielded remarkable results. The company now boasts a profit of $7.7 billion on its Bitcoin holdings, which translates to a remarkable return of 112% so far as Bitcoin breaks new all-time highs. ETF Expert Astounded By Bitcoin ETF Success The rapid rise of Bitcoin Exchange-Traded Funds (ETFs) has surpassed even the most optimistic projections. Bloomberg ETF expert Eric Balchunas highlighted the growth of these funds in a recent post on social media site X (formerly Twitter). The expert noted that assets under management (AUM) surpassed $55 billion, and trading volume reached an impressive $110 billion.  Balchunas acknowledged that achieving such numbers in just two months was nothing short of absurd, far exceeding what would normally be considered successful even at the end of a full year. Related Reading: Crypto Analyst Unveils 7 Memecoins To Turn $1,000 Into $1 Million In addition, in a surprising turn of events for the ETF expert, Blackrock’s IBIT ETF and Fidelity’s FBTC have emerged as the leaders among all ETFs in terms of year-to-date (YTD) flows through the middle of March. This unexpected feat positions these Bitcoin ETF offerings as major players in the ETF market, attracting the attention and interest of investors seeking exposure to the digital asset. Currently, BTC continues its uptrend, aiming to solidify and consolidate above the $70,000 threshold, which would put the cryptocurrency in a good position to reach the $100,000 mark in the rest of the year.  Featured image from Shutterstock, chart from TradingView.com

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Microstrategy Expands Bitcoin Position With $347 Million Investment, Pushing Total Holdings to 152,333 BTC

Microstrategy has purchased 12,333 more bitcoin for about $347 million, growing its cryptocurrency holdings to 152,333 btc. The Nasdaq-listed software company’s announcement came amid a series of positive developments in the crypto industry. Microstrategy Adds 12,333 Bitcoin to Its Holdings Business intelligence and software company Microstrategy (Nasdaq: MSTR) has expanded its bitcoin holdings. The company’s [...]

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MicroStrategy’s Michael Saylor Charged With Tax Evasion

D.C sued Michael Saylor for allegedly claiming other residences.  Michael Saylor failed to pay more than $25 million in income

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Bitcoin Crash Vs MicroStrategy CEO Michael Saylor’s HODL Strategy

MicroStrategy transferred 2089 BTC to anonymous wallets on Monday. MicroStrategy shares have been down 32.95% and Bitcoin by 11.18% in

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Microstrategy Buys More Bitcoin: Heres How Much Profit It Holds Now

Software company Microstrategy bought another $37 million worth of Bitcoin, bringing its unrealized profit to $37 million. Microstrategy Now Holds This Much In Unrealized Bitcoin Gain Michael Saylor, the founder and chairman of Microstrategy, has announced in an X post that the firm purchased an additional 850 BTC at $37.2 million in January, which was recently approved. In a post on X, CryptoQuant Netherlands community manager Maartunn explains four important facts about Microstrategy’s portfolio after this latest shopping spree. Related Reading: XRP Buy Signal Goes Off, Analyst Says This Is How Long Uptrend Will Last First, here is a chart that shows how the total supply held by Microstrategy has grown over the last few years: The trend in the total amount of the cryptocurrency held by the company | Source: @JA_Maartun on X The chart shows that the company has made several Bitcoin purchases over the past year and has substantially grown its holdings. Following the latest buying move, the firm’s wallets hold 190,000 BTC. This is a staggering amount, as the entire circulating supply of the asset is around 19.6 million BTC right now, which means Microstrategy alone holds almost 1% of the BTC supply. For perspective, all the Bitcoin spot exchange-traded funds (ETFs), including the Grayscale Bitcoin Trust (GBTC), combined, hold about 3.3% of the coins in circulation. Next, Maartunn has shared a chart displaying the cost of each purchase. The prices at which the firm made each of these buys | Source: @JA_Maartun on X Adding up all these costs, the total price of Microstrategy’s Bitcoin stack is around $5.932 billion. However, the chart below shows that the company’s actual BTC value differs from this amount. Looks like the value of the firm's holdings has significantly gone up in recent months | Source: @JA_Maartun on X As the graph shows, Microstrategy’s stack’s value at the current cryptocurrency price is notably higher than the amount it used to acquire these coins. In particular, the value of the company’s holdings is currently around $8.1 billion. Finally, the analyst shared a chart revealing the firm’s unrealized profit and loss trend over the years. The value of the indicator appears to be highly positive right now | Source: @JA_Maartun on X Microstrategy’s Bitcoin holdings had been in the red during the 2022 bear market and most of 2023, but with the start of the rally last October, the company’s fates finally changed as it returned to the green. Related Reading: XRP, SOL Among Coins With Red Sentiment, Time To Buy Against Crowd? The firm’s BTC stack holds significant unrealized gains of almost $2.2 billion. It would appear that Saylor’s strategy may have paid off, at least for now. BTC Price At the time of writing, Bitcoin is trading around the $43,000 mark, up 1% over the past week. The price of the coin seems to have been moving sideways over the last few days | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, CryptoQuant.com

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MicroStrategys Bitcoin Holdings Balloons Above $10 Billion, Heres How Much Profit It Has Made

MicroStrategy recently revealed that they had acquired an additional 3,000 BTC this month, bringing its Bitcoin holdings to 193,000 BTC. Interestingly, BTC’s recent price surge caused these holdings to cross the $10 billion mark, with the software company currently sitting on a tremendous amount of unrealized profits.  MicroStrategys Unrealized Profit Reaches $5 Billion As disclosed in the companys filing with the Securities and Exchange Commission (SEC), its BTC holdings have now been purchased for an average price of $31,544. That means that MicroStrategys Bitcoin investment is now at an unrealized profit of almost $5 billion, considering Bitcoin is trading just above $57,000.  Related Reading: Cardano Adoption Explodes: ADA Price Ready To Reclaim $3.1 All-Time High? MicroStrategys Bitcoin strategy, spearheaded by its co-founder Michael Saylor, began as far back as 2020 when the company started investing in the flagship crypto token. Saylor saw this as a way to hedge against inflation and diversify the companys cash reserves. Since then, Saylor and his company have continued to accumulate Bitcoin aggressively.  Saylors faith in Bitcoin was tested when the companys investment was at an unrealized loss during the height of the crypto winter when BTC traded below the $30,000 price level. Despite that, Saylor and MicroStrategy stayed true to their Bitcoin Strategy. Instead of selling, they saw it as an opportunity to accumulate more BTC. Saylor also recently made it clear that he and his company have no intention of liquidating their BTC holdings anytime soon, stating that Bitcoin is the exit strategy. This sentiment undoubtedly provides a bullish narrative for the flagship crypto, especially considering what could happen to the market if the company offloads its Bitcoin.  MicroStrategy is currently the largest corporate holder of BTC and is leading the charge as institutional demand for BTC continues to increase. This demand has mainly come from the Spot Bitcoin ETFs, which together hold more BTC than MicroStrategy combined.  Spot Bitcoin ETFs Trading Volume Surpass $2 Billion Again Bloomberg analyst Eric Balchunas revealed that the newly listed Bitcoin ETFs once again surpassed the $2 billion mark on February 27. This was the second consecutive day they achieved this, having recorded an all-time high of $2.4 billion in trading volume on February 26. Specifically, the worlds largest asset manager, BlackRock, seems to be having a run of its own.  Related Reading: Crypto Analyst Predicts Dogecoin Parabolic Breakout Above $3.5, Heres When Balchunas noted that BlackRock had broken its record again, with the iShares Bitcoin ETF (IBIT) recording a trading volume of $1.3 billion on February 27. The impressive demand for these funds is believed to be another reason why BTC’s price has continued to rally.  At the time of writing, Bitcoin is trading at around $57,100, up in the last 24 hours, according to data from CoinMarketCap.   BTC adds over $2,000 in six hours | Source: BTCUSD on Tradingview.com Featured image from Milk Road, chart from Tradingview.com

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Michael Saylor Predicts Bitcoin Market Cap Of $280 Trillion By 2045What Will The Price Be?

In a recent interview with Fox Business, Michael Saylor, co-founder and chairman of MicroStrategy, expressed an ambitious vision for Bitcoin (BTC), predicting a substantial increase in its overall market value over the next 21 years.  This forecast aligns with MicroStrategys ongoing strategy of intensifying its Bitcoin acquisition program, which has significantly influenced the company’s stock performance, linking it closely to Bitcoin’s price movements. Saylor Envisions Bitcoin Price Soaring To $13 Million Bitcoin has already reached a valuation of approximately $2 trillion, with its price hitting a new record of $104,000 on Thursday. However, Saylor anticipates an additional $200 trillion will be added to Bitcoin’s market cap by 2045, driven largely by global inflationary pressures.  According to Saylor, many investors are moving away from traditional assets in favor of Bitcoin, viewing it as a viable global monetary asset. He asserts that as more capital flows into Bitcoin, its growth trajectory will outpace equities, gold, and real estate. Related Reading: XRP Downtrend Is Only Temporary: Analyst Gives Reasons Why Price Is Headed For $3.2 Delving into specific price predictions, Saylor posited that bitcoin could reach an astounding $13 million per coin. This would represent a 12,384% growth if Saylor’s predicted scenario comes to fruition, potentially making it the largest currency in the world.  Saylor bases this estimate on an analysis suggesting that Bitcoin has historically grown at an average annual rate of 29%. This growth, he argues, could continue, leading to the projected valuation by 2045.  NewsBTC previously reported that Saylor believes that Bitcoin represents only 0.1% of the global capital market, but he envisions that figure increasing to 7%. Saylor also provided a detailed analysis of Bitcoin’s growth trajectory, outlining a four-year projection with an average growth rate that might start at 44% and gradually taper down to 30%.  Contrary to the perception of Bitcoin as a high-risk asset, Saylor emphasizes its potential as a safe haven for risk-averse investors, highlighting the increasing demand for security in investment choices. MicroStrategy Ramps Up BTC Acquisitions In a recent social media update, Saylor shared the company’s performance following three years of strategic Bitcoin investments. He announced that year-to-date, MicroStrategy’s treasury operations have delivered an impressive BTC yield of 63.3%, resulting in a net benefit of approximately 119,800 BTC for shareholders.  At prices of $103,000 per BTC, this translates to an estimated $12.3 billion in returns for the year, positioning MicroStrategy as one of the most profitable and fastest-growing companies operating under the Bitcoin Standard. Related Reading: Dont Fade Dogecoin! Analyst Says DOGE Is About To Rally On Monday, MicroStrategy revealed that it has significantly ramped up its BTC acquisitions, surpassing the milestone of 400,000 BTC in its portfolio. The company sold 3.7 million shares of its stock, generating around $1.5 billion in proceeds immediately reinvested into Bitcoin. This marks the fourth consecutive week of Bitcoin purchases by the firm. Since November 11, MicroStrategy has invested over $13.5 billion in Bitcoin across three separate transactions, bringing its total holdings to approximately $38 billion, or 402,100 BTC, at an average purchase price of $56,658 per coin.  BTC trades at $101,628 at the time of writing, recording a 6% surge in the 24-hour time frame.  Featured image from DALL-E, chart from TradingView.com

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MicroStrategy Continues Bitcoin Buying Streak: 15,400 BTC Added This Monday

As November concludes and December begins, business intelligence firm MicroStrategy has significantly accelerated its Bitcoin (BTC) acquisitions, slightly surpassing the milestone of 400,000 BTC in its portfolio.  This purchase surge comes just over a month after the company announced ambitious plans to raise $21 billion through stock sales to fund additional Bitcoin acquisitions.  $1.5 Billion [...]

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MicroStrategy Raises Stakes, Acquires $1.5 Billion In Bitcoin Amid Positive Market Outlook

MicroStrategy, the business intelligence firm led by Michael Saylor, has ramped up its Bitcoin (BTC) acquisition strategy for the sixth consecutive week. This latest purchase comes as BTC has surged to new all-time highs, with the leading cryptocurrency recently surpassing the $106,00 mark on Monday. MicroStrategy’s Bitcoin Stash Grows To 439,000 BTC On Monday, Michael [...]

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Five Weeks, Five Purchases: MicroStrategy Invests Another $2.1 Billion In Bitcoin

MicroStrategy, the business intelligence firm helmed by co-founder and Chairman Michael Saylor, has made headlines yet again with the announcement of a $2.1 billion Bitcoin (BTC) acquisition. Interestingly, this is the fifth consecutive Monday that the Tysons Corner, Virginia-based corporation has announced major acquisitions of the market’s leading crypto, demonstrating confidence in BTC’s prospects and [...]

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Microstrategy’s Stock Soars 206% After Adopting Bitcoin Strategy

Microstrategy’s stock (Nasdaq: MSTR) has risen 206% after the company adopted bitcoin as its primary treasury reserve asset. The business intelligence firm now holds 152,800 bitcoins, acquired for a total cost of $4.53 billion, and it has plans to buy even more. Microstrategy’s Stock Outperforms Bitcoin, S&P500, Nasdaq, Gold, Silver The stock of business intelligence [...]

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Historic Bitcoin Buy: MicroStrategy Adds 55,500 More BTC To Its Portfolio For $5.4 Billion

Business intelligence firm MicroStrategy has significantly increased its Bitcoin (BTC) purchases this month in response to the bullish sentiment following President-elect Donald Trumps victory on November 5. The company’s recent acquisitions have pushed its total Bitcoin holdings to approximately $38 billion. Convertible Notes Fuel Massive Bitcoin Purchase On November 25, co-founder Michael Saylor announced via social media that MicroStrategy had acquired 55,500 BTC between November 18 and November 24 for $5.4 billion.  This purchase was funded by proceeds from a $3 billion convertible note issuance and sales of common shares, as detailed in a filing with the US Securities and Exchange Commission (SEC). Related Reading: XRP Price Builds a Base: Can Bulls Ignite a New Rally? Since beginning its Bitcoin acquisition strategy in 2020, Saylor has shifted from using corporate cash to a more complex funding model that involves selling convertible debt and shares.  The latest convertible note was issued at a zero percent interest rate, reflecting lenders’ confidence that MicroStrategys stock will appreciate beyond the conversion price in the future.  Jeffrey Park, a portfolio manager at Bitwise Asset Management, noted that Saylor has effectively leveraged financial arbitrage within the corporate treasury structure, allowing MicroStrategy to borrow funds at virtually no cost. Saylor also revealed that MicroStrategy’s treasury operations have yielded a substantial 59.3% in Bitcoin returns year-to-date, translating to a net gain of approximately 112,125 BTC for shareholders, or about 341 BTC per day.  At a projected price of $100,000 per BTC, Saylor stated that this could mean an impressive $11.2 billion for the year, equating to roughly $34.1 million daily. Analyst Warns Of Risks In Leverage Strategy Since its foray into Bitcoin, MicroStrategy has acquired a total of 386,700 tokens, with an average purchase price significantly lower than its current market value.  The latest acquisitions occurred while Bitcoin prices were nearing all-time highs, with the company purchasing the new tokens at approximately $97,862 each, slightly above their current trading price. Related Reading: Solana (SOL) Bulls Stay in Control: Rally Far From Over? However, this leveraged strategy has raised concerns among some analysts, particularly after MicroStrategys shares (MSTR) fell by 16% last Thursday.  Critics warn that if Bitcoin’s price declines sharply, the company’s stock could suffer similarly, recalling the downturn in 2022 when the cryptocurrency market experienced significant losses. TD Cowen analyst Lance Vitanza remarked on the risks associated with leverage, stating, When you apply leverage to anything, you amplify the returns both in the up direction and in the down direction. He emphasized that MicroStrategy is a pioneer in applying this leverage strategy specifically to Bitcoin. At the time of writing, the market’s leading crypto is trading at $95,350, registering a price decrease of 1.7% in the 24-hour time frame.  Featured image from DALL-E, chart from TradingView.com

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MicroStrategy Makes Record $4.6 Billion Bitcoin Purchase, Largest Yet

Business intelligence firm MicroStrategy has ramped up its Bitcoin (BTC) investment following President-elect Donald Trump’s victory in the presidential election. This pivotal moment on November 5 has provided a catalyst for the broader crypto market, further encouraging investment in digital assets. Bitcoin Holdings To Over $29 Billion Led by Bitcoin advocate Michael Saylor, MicroStrategy disclosed on Monday that it has acquired approximately 51,780 Bitcoin for around $4.6 billion. This acquisition marks the largest purchase by the company since it began its Bitcoin buying strategy more than four years ago.  According to a filing with the US Securities and Exchange Commission, the tokens were purchased between November 11 and November 17. With this latest acquisition, MicroStrategy’s total Bitcoin holdings now exceed $29 billion or 331,200 BTC. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern Analyst Reveals Target Saylor’s journey into Bitcoin began in 2020 as a strategy to hedge against inflation. Initially funded through cash reserves, the company has since pivoted to using proceeds from stock issuances and convertible debt sales to enhance its purchasing power in the cryptocurrency market.  Michael Saylor has also reaffirmed his commitment to this strategy. He aims to raise $42 billion over the next three years to further strengthen the company’s BTC portfolio and transform Microstrategy into a leading crypto bank.  BTC Yield Rises To 20.4% Amid Market Optimism Recent data from South Korea-based crypto analytics firm CryptoQuant highlights the impact of MicroStrategy’s latest purchase on its Bitcoin statistics: BTC Holdings: Increased from 279,420 BTC to 331,200 BTC MSTR Realized Price: Rose from $42,692 to $49,874 MSTR Market Value to Realized Value (MVRV): Adjusted from 2.12 to 1.80 Percentage of BTC Owned by MicroStrategy: Increased from 1.412% to 1.674% This latest transaction follows closely on the heels of another significant acquisition on November 11, during which Saylor noted that the companys treasury operations had yielded an 7.3% in Bitcoin, translating to a net benefit of approximately 18,410 BTC for shareholders. However, with Monday’s announcement and the notable uptrend in the Bitcoin price over the past two weeks, Saylor revealed that these metrics have risen to a BTC yield of 20.4% and a net benefit to shareholders of 51,470 BTC.  Related Reading: Bitcoin Miners Sold Over 3,000 BTC In The Past 48 Hours Consolidation Phase Ahead? The correlation between MicroStrategys stock (MSTR) and Bitcoins price has also been particularly noteworthy in recent weeks. Following Bitcoin’s record high of $93,300 on November 13, MicroStrategy’s stock also reached an all-time high of $383.  Yet, as the leading digital asset of the market retraced to around $90,650a 9% increase over the past weekMSTR’s share price also declined to approximately $359 over the past weekend, underscoring the strong relationship between the cryptocurrency and the firms stock performance. Featured image from DALL-E, chart from TradingView.com

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Bitcoin Soars Past $82,500 As MicroStrategy Makes Major 27,200 BTC Purchase

On Monday, business intelligence firm Microstrategy announced the purchase of additional Bitcoin (BTC) as the largest cryptocurrency on the market hit a new all-time high of $82,500, with increased inflows into various sectors of the ecosystem over the past week.  MicroStrategy Now Holds Nearly $23 Billion In Bitcoin In a social media post by Bitcoin bull Michael Saylor, the company announced that it had acquired approximately 27,200 BTC for approximately $2.03 billion. This transaction is one of the largest BTC purchases to date by a corporate entity but in line with the company’s strategy to integrate crypto into its financial framework.  According to a statement released Monday, these acquisitions took place between October 31 and November 10, using proceeds from recent stock sales.  With this latest purchase, MicroStrategy now holds nearly $23 billion in Bitcoin, totaling approximately 279,420 BTC with an average purchase price of about $42,692 per Bitcoin. Related Reading: PEPE Upsurge Stalls At Key Resistance, Eyeing Support At $0.00001152 Michael Saylor also revealed that the company’s MSTR treasury operations since the beginning of November have resulted in a BTC yield of 7.3%, representing a net benefit to shareholders of nearly 18,410 Bitcoin.  However, this strategy has also had a notable impact on Microstrategy’s stock MSTR, which jumped 11% on Monday as the announcement was made and is currently trading at approximately $299 per share, up from $270 the previous week. Post-Election Bull Run The current uptrend in Bitcoins price also coincides with a notable shift in investor sentiment following Donald Trumps victory in the recent US presidential election against Vice President Kamala Harris.  According to CoinShares, digital asset investment products experienced inflows of $1.98 billion following the election, marking the fifth consecutive week of positive inflows and bringing the year-to-date total to a record $31.3 billion.  Along with the largest cryptocurrency on the market, the overall global assets under management (AuM) in cryptocurrencies have reached an all-time high of $116 billion. The inflows were predominantly driven by US investors, who contributed $1.95 billion, while European markets also saw smaller inflows, particularly in Switzerland and Germany. Bitcoin alone attracted $1.8 billion of these inflows, reflecting a broader trend that has emerged since the US Federal Reserve (Fed) cut interest rates in September. Related Reading: Dogecoin (DOGE) Soars 50% In a Flash: Is More Upside Ahead? Susannah Streeter, head of money and markets at Hargreaves Lansdown, noted that the bullish momentum in the crypto market is fueled by a sense of euphoria following Trumps election.  Streeter commented that his pledge to ‘go all in on crypto’ has sent BTC to “new, heady heights,” and ultimately believes that Trump’s shift towards supporting the cryptocurrency industry has created a more favorable regulatory environment, boosting investor confidence. In further support of this sentiment, Citi strategists highlighted that cryptocurrencies remain one of the few Trump-related trades that have not retraced. They noted that his administration’s expected crypto-friendly policies could lead to greater regulatory clarity in the US, further encouraging investment. Overall, as Bitcoin continues its uptrend, some predict that BTC could reach the $100,000 milestone by the end of the year, driven by a combination of favorable market conditions and growing institutional adoption. At the time of writing, the market’s leading crypto is trading at $82,479, up 20% in the past week alone.  Featured image from DALL-E, chart from TradingView.com

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If Microstrategy Chose ETH Over BTC, the Firm Would Be up 54% and Ahead by More Than $2B, Data Reveals

At 1:19 p.m. Eastern Time on Sunday, June 11, 2023, Microstrategy, a publicly-listed company, had 140,000 bitcoin (BTC) on its balance sheet. Despite this impressive figure, a data analyst at blockchaincenter.net compiled metrics that reveal the company’s investment has decreased in value by 14%. The data also indicates that if Microstrategy had invested in ethereum [...]

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