Once again making news, Metaplanet Inc., often known as “Asia’s MicroStrategy,” raised 10 billion yen (about $68 million) through a recent stock sale. The goal of this significant investment is to support its aggressive Bitcoin acquisition strategy. Similar to the tactics of well-known companies like MicroStrategy, the move comes as the company keeps positioning itself […]
The fund touts leveraged exposure to Bitcoin and gold as investors brace for inflation and geopolitical strife.
Crypto exchange Coinbase and Bitcoin miners CleanSpark and Iren closed Oct. 14 with double-digit percentage gains and continued to climb after the bell.
MicroStrategy could soon have bigger bitcoin pockets than Grayscale.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Bitcoin’s monthly close could reverse a 6-month-long downtrend and signal traders’ intent to push BTC price to new highs.
Seven days after hitting the market, the T-REX 2X Long MSTR Daily Target ETF (MSTU) has become one of the most successful new exchange-traded funds (ETFs) on the market after attracting over $72 million.
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 company’s 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 company’s Bitcoin investment strategy. MicroStrategy’s Stock Price Blows Up MicroStrategy’s 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 company’s BTC portfolio grew, so did the company’s 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. It’s understandable given that Bitcoin has become the company’s 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 it’s 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 NVIDIA’s 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 company’s 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 company’s 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
The proliferation of institutional Bitcoin custodians creates opportunities for MicroStrategy, according to a Benchmark analyst.
Exploring the unique strategies and competitive landscape of BlackRock's IBIT vs. MicroStrategy
Stablecoin issuer Circle is moving forward with its public offering debut and plans to shift its headquarters to Wall Street in 2025.
With the latest acquisition, the company now holds 252,220 bitcoin worth nearly $16 billion at current prices.
MicroStrategy completes a $1.01 billion convertible note offering, allocating proceeds for Bitcoin purchases and debt repayment.
Cathedra Bitcoin will move away from mining business and will develop data center instead.
Republicans are way ahead of Democrats regarding their opinion of crypto and bitcoin {{BTC}}, said MicroStrategy (MSTR) Executive Chairman Michael Saylor.
The report claimed, a cash treasury “supplemented with a 3% allocation to Bitcoin” would have shielded companies from inflation since 2020.
The report claimed, a cash treasury “supplemented with a 3% allocation to Bitcoin” would have shielded companies from inflation since 2020.
SBI Group’s fully-owned crypto exchange, SBI VC Trade, will assist Metaplanet in its Bitcoin strategy by providing various support in trading, storage and operation.
Dell Technologies’ Q2 2024 earnings results had the crypto industry on the edge of its seat, anticipating the company might become the latest to add Bitcoin (BTC) to its balance sheet. No Bitcoin Purchases For Dell Yet Despite CEO Michael Dell’s cryptic posts on social media platform X highlighting Bitcoin’s digital scarcity, Dell Technologies has […]
Leveraged ETFs chronically underperform comparable investments. There are better ways to place bullish bets on Bitcoin than MicroStrategy's new ETF.
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 […]
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
The valuation assumes continued aggressive Bitcoin buying by MicroStrategy.
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 […]
Four years ago, MicroStrategy co-founder and Chairman Michael Saylor, turned to Bitcoin as a way to invest the company’s excess cash rather than traditional assets like short-term Treasuries. This decision has transformed the software firm into the largest corporate holder of the largest cryptocurrency on the market, with a Bitcoin stockpile now worth nearly $15 […]
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 […]
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MicroStrategy announces 10-for-1 stock split to enhance stock accessibility for investors and employees.
The company is the largest corporate bitcoin holder with more than $13 billion worth of BTC in its treasury.