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
MicroStrategy (Nasdaq: MSTR) announced it is preparing to significantly increase its Bitcoin holdings by raising $2 billion through a new at-the-market equity offering. The announcement came after the market closed on Thursday, following a report of robust Q2 2024 earnings, which showed a substantial increase in the company’s assets. Currently, MicroStrategy holds 226,500 BTC, which […]
MicroStrategy reported second-quarter earnings on Thursday.
MicroStrategy, a prominent Bitcoin holder, faces scrutiny regarding its cash flows ahead of its earnings report. On July 31, Michael Saylor, a prominent Bitcoin advocate, announced that the company would release its earnings on Aug. 1 after market close and host a live webinar to discuss the results. Cash flow concerns Bloomberg reported that MicroStrategy’s […]
The post MicroStrategy faces scrutiny over cash flow and Bitcoin holdings ahead of Q2 earning appeared first on CryptoSlate.
U.S. Sen. Tim Scott (R-S.C.), the top Republican on the Senate Banking Committee who may be in position to be its next chairman, argued at a Bitcoin 2024 appearance on Friday that the government should "make it easy" for the crypto industry to innovate in the U.S.
Shares in Metaplanet and Semler Scientific are up double and triple digits since the firms followed MicroStrategy’s Bitcoin playbook this year.
After completing the latest purchase, Metaplanet holds 203,734 BTC bought at an average price of around $62,000 per coin.
Financial services firm T-Rex Group has applied for what could be the “most volatile ETF” ever seen in the United States.
The proceedings of the issuance will be used to acquire more bitcoin and for general corporate affairs.
Michael Saylor, the tech entrepreneur who steered MicroStrategy into a Bitcoin behemoth, is back in the headlines. This time, he’s not championing the orange coin, but rather aiming his laser focus at its altcoin rivals. Related Reading: Fear Back For 1st Time Since October As Crypto Greed Takes The Backseat At the recent Bitcoin For […]
MicroStrategy’s chairman, Michael Saylor, revealed the firm’s ambitious plan to introduce a decentralized identity solution called MicroStrategy Orange on the Bitcoin network during his Bitcoin For Corporations talk on May 1. Saylor underlined the potential of establishing a universal standard with the distinctive orange checkmark, envisioning it as a global alternative to the commonly recognized […]
The post MicroStrategy decentralized identity solution leveraging Ordinals attracts criticism from core Bitcoin proponents appeared first on CryptoSlate.
Saylor's positive Bitcoin view persists despite a recent dip; meanwhile, market sentiment remains bullish ahead of the halving.
The post Michael Saylor sees opportunity for Bitcoin in chaos appeared first on Crypto Briefing.
MicroStrategy now holds approximately 214,246 BTC ($13.5 billion), which is more than 1% of all the 21 million bitcoin that will ever exist.
MicroStrategy could raise as much as $600 million from its latest convertible debt offering to purchase more Bitcoin. However, JPMorgan analysts have reportedly cautioned that the firm’s reliance on debt to purchase Bitcoin could exacerbate a market downturn. The firm, led by BTC advocate Michael Saylor, has acquired over 15,000 BTC worth nearly $1 billion […]
The post Analysts warn MicroStrategy’s plan to fuel Bitcoin buys with debt could backfire appeared first on CryptoSlate.
The firm announced its plans to raise $500 million in a debt offering on Wednesday only days after purchasing 12,000 BTC with the proceeds of a previous $700 million offering.
The firm only just completed a $800 million raise earlier this week which was used to scoop up another 12,000 Bitcoin.
Appearing on CNBC after his company on Monday announced the purchase of an additional 12,000 of bitcoin {{BTC]], MicroStrategy (MSTR) Executive Chairman Michael Saylor said the crypto will be a much more valuable asset than gold in the future.
The firm had previously announced a $600 million convertible raise on March 4.
MicroStrategy is the largest corporate owner of bitcoin, holding roughly $13 billion worth of BTC.
The $600 million in senior convertible notes will mature in March 2030, unless earlier repurchased, redeemed or converted into cash or MicroStrategy stock.
The MicroStrategy executive chair claimed Bitcoin was superior to gold and real estate, and predicted that capital from those assets would make their way into the cryptocurrency.
MicroStrategy’s market cap would need to rise another $3.7 billion and meet other eligibility criteria in order to have a chance of making it on the popular index, however.
MicroStrategy co-founder and executive chairman says his company is re-branding as a bitcoin development company during CNBC interview.
Michael Saylor’s Bitcoin investment is over $2.6 billion in profit, but BTC price needs to gain a whole lot more to challenge the world’s richest person.
MicroStrategy is also looking to raise up to $750 million in a sale of class A common stock.