MicroStrategy Executive Chairman Michael Saylor will present a Bitcoin treasury strategy to the Microsoft Board of Directors before December 10. The revelation came during an X Space organized by investment management firm VanEck, featuring Saylor, Matthew Sigel (Head of Digital Assets Research at VanEck), Jan van Eck (CEO of VanEck), and US Senator Cynthia Lummis. […]
The YouTube competitor had about $131 million of cash and cash equivalents on its balance sheet as of the end of the third quarter.
MicroStrategy’s Michael Saylor is known for his unorthodox and bold investing style, which often attracts criticism. His Bitcoin focused strategy and buying the top digital asset at near-highs have their fair share of critics. But recent developments tell us that Bitcoin’s bullish sentiment has been right after all, well, at least for today. Related Reading: […]
The company now holds 331,200 bitcoin acquired for roughly $16.5 billion and worth just shy of $30 billion.
Two prominent crypto personalities—Michael Saylor of MicroStrategy and Sen. Cynthia Lummis of Wyoming—support the call to create a Bitcoin reserve. In a CNBC interview, Saylor reiterated his bullish take on Bitcoin and suggested that creating a reserve of 1 million Bitcoins could help cut US debt by $16 trillion, or by 45%. Related Reading: Crypto […]
Michael Saylor says the US should and will build a reserve of bitcoin and explains why it is the greatest deal of the 21st century.
Bitcoin clinched another all-time high of $88,448 on Monday, surging 11% over the past 24 hours.
The company's bitcoin yield thus far this quarter is 7.4% and over 26% year-to-date.
According to data from CoinMarketCap, Bitcoin (BTC) has gained by 0.66% in the past 24 hours with its market price now hovering close to $77,000. This slight price increase compounds an impressive performance in the last month during which BTC’s value has risen by 27.82%. As the crypto bull season appears to be kicking off, the popular Bitcoin Stock-to-Flow model has revealed a lofty price target for the largest digital asset. Related Reading: Bitcoin Could Be Ready For ‘Phase 2’ Of This Historical Bull Pattern Why Bitcoin May Reach $500,000 In an X post on November 9, a pseudonymous analyst and developer of the Bitcoin Stock-to-Flow model shared a price prediction on the maiden cryptocurrency. For context, the Stock-to-Flow model is a popular market framework that forecasts BTC’s price based on projected scarcity. According to PlanB, data from this analysis model currently suggests that the crypto market leader will attain an average market price of $500,000 over the next four years with a projected price range of $250,000 – $1 million. The analyst explains that the Bitcoin bull season is still at an early stage as indicated by the red dots on the Stock-to-Flow model chart, despite the recent price rally induced by Donald Trump’s electoral victory and even the “fake-out” recorded in Q1 2024 following the Spot Bitcoin ETF launch. Aside from historical data, PlanB states multiple future events indicate BTC’s massive potential to attain the established price target. For example, the pseudonymous analyst references Trump’s intention to establish a National Bitcoin Reserve which may likely be enacted by Senator Cynthia Lummis’s proposed Bitcoin Act that will see the US purchase 200,000 BTC annually for the next five years. PlanB also highlighted Michael Saylor’s Microstrategy recently published objective to purchase $42 billion BTC by 2027. The market analyst explains that both massive acquisition programs would stimulate a high buying pressure on BTC which should translate to sharp price increases. In addition, PlanB states the Spot BTC ETFs have experienced enormous inflows, valued at $2.294 billion, since Trump’s election, which will only go higher in the coming months contributing to BTC’s demand. Importantly, the analyst kicks against doubting the Stock-to-Flow model despite Bitcoin attaining an average price of $34, 000 in the last cycle rather than the predicted $55,000 since the market model revealed a price target range of $25,000-$100,000. BTC Price Overview At the time of writing, BTC trades at 76, 745 reflecting a price gain of 11.85% in the past seven days. However, the asset’s trading volume has decreased by over 40% in the 24 hours reaching $28.33 billion. Related Reading: Rising Bitcoin Funding Rates Signal Market Optimism—But Is A Correction Looming? Featured image from Atlantic Council, chart from Tradingview
Despite facing strong resistance at the $73,000 price level, leading to a notable price drop on Thursday after a remarkable week of upside movement, traders and investors are still betting on Bitcoin, demonstrating a persistent demand for the crypto asset. Bitcoin In Extreme Greed Territory Again After Fews Months Investors’ sentiment around Bitcoin has witnessed […]
One analyst raised his price target from $245 to $300 per share on news of MicroStrategy’s bold Bitcoin buying plans.
Michael Saylor's MicroStrategy tops Coinbase as the biggest crypto stock after revealing huge plan to buy more bitcoin (BTC).
As institutional interest in Bitcoin soars, the crypto community grapples with fundamental questions about custody and control.
Donald Trump said nothing about changing tax laws for Americans using Bitcoin to buy coffee but has suggested eliminating federal income tax.
Michael Saylor’s MicroStrategy is back in the news, with its stock trading at a 25-year high. TradingView’s recent data shows that MicroStrategy (MSTR) hit $235.89 in Thursday’s session. The stock’s price increased by more than 7% on October 25th. MicroStrategy’s price action last Thursday continued its 6-week rally and came ahead of its scheduled Q3 earnings report. Related Reading: Whales Hit All-Time High Bitcoin Holdings At 670,000 – What Does This Mean For BTC? This week’s stock performance reflected the company’s consistent growth over the past few years. MicroStrategy has outperformed most of its peers in the S&P 500 index and even outpaced Microsoft’s growth since 1999. According to observers, MicroStrategy is bullish, with market analysts listing $245 as the stock’s next target. MicroStrategy Continues Its Bitcoin Focus MicroStrategy, a Virginia-based Bitcoin development company, is currently the world’s largest corporate holder of Bitcoin, with 252,222 BTC. With Bitcoin’s current price of $67,392, the company holds more than $17 billion in assets. MicroStrategy Stock Hits New Highs MicroStrategy’s stock (MSTR) has soared over 7% to a 25-year high of $236, with a current market cap of $47 billion, overtaking Microsoft in all-time stock gains. Since adopting Bitcoin as a treasury asset in 2020, MicroStrategy’s stock is up… pic.twitter.com/cyXS0KODCD — The Wolf Of All Streets (@scottmelker) October 25, 2024 Initially, the company developed software to analyze external and internal data to help decision-making, with IBM Cognos, Oracle Corporation’s BI Platform, and SAP AG Business objects as its primary competitors. However, in August 2020, the company changed its business model to focus on Bitcoin. The company has raised $4.25 billion from its equity offerings, the foundation for growing its Bitcoin holdings. MicroStrategy’s Bitcoin Plan Has Its Costs, Too As part of its Bitcoin plan, it aims to buy BTC at every opportunity. For the most part, Saylor’s strategy was a hit. However, the business plan to focus on Bitcoin came at a cost, and Saylor earned a few detractors and critics along the way. For example, the company has expanded its convertible note offering to raise funds to buy more Bitcoin. However, the bulk of these notes do not mature until 2032. Some market observers also say that MicroStrategy is in a difficult situation, especially during market downturns. Since the company relies on Bitcoin, the company’s future is dependent on crypto’s extreme volatility. Although most criticisms are valid, Michael Saylor remains defiant and has since doubled its BTC investments. Hey @SatyaNadella, if you want to make the next trillion dollars for $MSFT shareholders, call me. pic.twitter.com/NPnVvL7Wmj — Michael Saylor⚡️ (@saylor) October 25, 2024 Related Reading: Against All Odds: Solana (SOL) Breaks Past $176 In 3-Month Push Next Target For MicroStrategy Is $245 Market observers are now bullish on Saylor’s company. According to Mark Palmer, the company’s stock has boasted a 17.8% yield since starting its Bitcoin strategy. Palmer and the other analysts now target $245 to address this sudden surge and bullish sentiment. Palmer adds that the company’s share price has increased by 1,600% in the last four years, and more gains are possible. It also helps that Michael Saylor has remained steadfast in his vision and passion for Bitcoin. In a recent Twitter/X post, MicroStrategy’s executive chairman hinted at the company’s next move and made a pitch to Microsoft’s Satya Nadella. Featured image from Dall.E, chart from TradingView
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
MicroStrategy is up over 1,500% since 1999 compared to Microsoft’s 1,460% gains during the same 25-year period.
Microstrategy hits 17% of the trade volume of nvda
In a recent interview with journalist Madison Reidy, Michael Saylor, CEO of MicroStrategy, ignited significant controversy within the Bitcoin community over his remarks on custody and regulation. Addressing concerns about the risks of large amounts of BTC being held by third-party custodians and major institutions, Saylor argued against self-custody and downplayed fears of increased seizure […]
“I support self-custody for those willing and able,” said Saylor in a new post after encouraging "big bank" custody in an interview earlier this week.
Michael Saylor’s aggressive Bitcoin strategy over the past few years has largely paid off for him and MicroStrategy, making the company now one of the largest corporate holders of Bitcoin. In a recent interview, Saylor unveiled an ambitious plan to transform MicroStrategy into a leading Bitcoin bank, aiming to capitalize on the growing interest in […]
The proliferation of institutional Bitcoin custodians creates opportunities for MicroStrategy, according to a Benchmark analyst.
With the latest acquisition, the company now holds 252,220 bitcoin worth nearly $16 billion at current prices.
MicroStrategy’s $1.11 billion Bitcoin purchase was funded by selling over eight million company shares through a sales agreement.
Republicans are way ahead of Democrats regarding their opinion of crypto and bitcoin {{BTC}}, said MicroStrategy (MSTR) Executive Chairman Michael Saylor.
If the fund was aiming to increase its Bitcoin exposure, there would be more “evidence of direct exposure initiatives,” according to an analyst.
Earlier this week, Bitcoin, the largest cryptocurrency asset witnessed a steep decline as a result of Japan’s stock market crash, demonstrating the volatile nature of the asset during macroeconomic turmoil. Following the recent market turbulence, Michael Saylor, the co-founder and Executive Chairman of popular business intelligence firm, MicroStrategy has taken the initiative to address the […]
With Bitcoin (BTC) witnessing new gains as its price recovers from bearish trends, Michael Saylor, co-founder and former Chief Executive Officer (CEO) of MicroStrategy, is reaping the benefits. Saylor has been a vocal supporter and investor of Bitcoin for years. As the value of the cryptocurrency surges, so does his considerable BTC stash. How Much […]
In a bold display of faith in the future of the largest cryptocurrency on the market, Bitcoin (BTC), MicroStrategy co-founder and executive chairman Michael Saylor has disclosed that he owns around $1 billion. Saylor’s Bitcoin Vision Unshaken In a recent interview with Bloomberg Television, Saylor disclosed that he has been steadily accumulating Bitcoin over the past several years and has no plans to sell any of his holdings soon. “I continue to acquire more,” Saylor stated. “I think it’s a great capital investment asset for an individual, family, institutional corporation or country. I can’t see a better place to put my money.” Related Reading: Analyst Says Bitcoin Bottom Is Not In, Will Price Crash Below $50,000 Again? Saylor’s personal BTC stash is in addition to the over 226,000 BTC held by MicroStrategy, the enterprise software firm he co-founded and led as CEO until recently transitioning to the executive chairman role. MicroStrategy began amassing Bitcoin in 2020 to hedge against inflation and has since emerged as the largest publicly traded corporate holder of the cryptocurrency. The company’s Bitcoin holdings are currently valued at around $13 billion. Despite the recent volatility and price declines in the cryptocurrency market, Saylor remains unwavering in his conviction about Bitcoin’s long-term potential. He views it as a superior store of value and investment asset compared to traditional options like cash, bonds, or even gold. ‘Death Cross’ Analysis & Short-Term Sell Signals Amid Monday’s broader market crash, market expert Timothy Peterson noted in a social media post that Bitcoin had formed a “death cross,” where the 50-day average exceeds the 200-day average. Interestingly, Peterson notes that this rare event has only taken place eight times since 2015. Historical data analyzed by Peterson revealed that Bitcoin experienced a positive outcome approximately 62% of the time following previous’ death cross’ instances. Notably, downturns were observed during bear market years such as 2014, 2019, and 2022. Nevertheless, Peterson expressed skepticism about a repeat of such downturns, suggesting that Bitcoin plummeting below $40,000 by year-end seems improbable. Instead, he projected a potential surge to over $90,000 by the year’s close, drawing parallels to past bullish trends following similar patterns. Related Reading: Cardano Price Crash Below $0.3: Is It Time For You To Buy ADA? Despite these optimistic projections, the short-term outlook for Bitcoin faced a dose of caution from crypto analyst Ali Martinez. On Tuesday, Martinez raised concerns as the TD Sequential indicator signaled a sell order on Bitcoin’s 4-hour chart. This indicator, which assesses potential trend exhaustion points, hinted at an impending correction as Bitcoin’s price surged above $57,000 on Tuesday. The analyst’s warning proved prescient as Bitcoin underwent a retracement of nearly 3% within the last 24 hours, hitting a daily low of $54,700. Featured image from DALL-E, chart from TradingView.com