The purchase takes MicroStrategy's total holdings to 444,262 bitcoin.
Bitcoin bull Michael Saylor has pitched a US crypto framework, saying a strategic digital asset policy can strengthen the dollar and neutralize the country's national debt.
According to MicroStrategy co-founder Michael Saylor, the company currently holds 439,000 Bitcoin, valued at approximately $27 billion.
Major North American Bitcoin (BTC) mining company Hut 8 has further expanded its BTC holdings with a $100 million acquisition. This latest purchase has pushed the company’s total reserves to over 10,096 BTC, valued at more than $1 billion at current market prices. Hut 8 Bitcoin Reserves Top $1 Billion The Miami-headquartered cryptocurrency mining firm continues to increase its Bitcoin reserves, undeterred by BTC’s recent price surges. In its latest announcement, Hut 8 revealed the purchase of approximately 990 BTC for $100 million, at an average price of $101,710 per Bitcoin. Related Reading: Metaplanet To Expand Bitcoin Holdings With $11.3 Million Bond Sale This acquisition has propelled Hut 8’s total BTC holdings to over $1 billion, with the coins acquired at an average cost of $24,485 per Bitcoin. The move reflects the company’s strategy of combining low-cost BTC production with what it views as strategic market buys to maximize returns and strengthen its reserve assets. Notably, Hut 8’s recent purchase positions it among the top 10 largest corporate holders of Bitcoin globally. MicroStrategy remains the leader on this list, holding more than 250,000 BTC on its balance sheet. Commenting, Asher Genoot, CEO, Hut 8, said: We believe deeply in our operating business and that building a strategic Bitcoin reserve will fortify our financial position as we pursue large-scale growth initiatives across power and digital infrastructure. Additionally, as we scale operations and extend our cost advantage in Bitcoin production, we anticipate that the flywheel effect will enable us to grow our holdings organically at a significant discount to market prices, strengthening the yield of our reserve strategy. Echoing these sentiments, Hut 8 CFO, Sean Glennan explained that making BTC a reserve asset was a key component of the company’s strategy to deliver “superior returns” to shareholders through strategic treasury management. He added that the company is open to deploying its BTC reserve to support business objectives, such as upgrading its mining fleet. Earlier this month, Hut 8 unveiled a massive $750 million initiative aimed at general corporate objectives, debt repayment, and bolstering its Bitcoin reserve. On a year-to-date basis, Hut 8’s stock has surged by over 102%, trading at $27.11 at the time of writing. 4 Mining Firms Among Top 10 Corporate BTC Holders While companies like MicroStrategy, Tesla, Block, and Coinbase are well-known among the top corporate Bitcoin holders, four Bitcoin mining firms also feature on this prestigious list, namely, Marathon Digital Holdings, Hut 8, Riot Blockchain, and CleanSpark. Related Reading: Bitcoin Adoption Grows As Rumble Unveils $20 Million BTC Treasury Strategy Last year, Riot Blockchain reported a significant increase in its BTC holdings. At the time of writing, the Bitcoin mining firm holds a total of 8,490 BTC. Similarly, earlier this month, Marathon Digital Holdings purchased another 703 BTC to increase its total reserves to 34,794 BTC. This move aligns with Marathon CEO’s previous statement that institutions are “waiting to buy up” Bitcoin. In October, CleanSpark CEO Zach Bradford predicted that BTC may peak around $200,000 in the next 18 months. At press time, BTC trades at $100,543, down 3.1% in the past 24 hours. Featured image from Unsplash, Charts from Yahoo! Finance and Tradingview.com
From MicroStrategy splitting its stock to major banks acquiring crypto firms, bitcoin is about to enter its “Wall Street” era.
Bitcoin investors realized profits as BTC price hit new all-time highs throughout November. Now that the metric has reset, new highs could be in store.
MicroStrategy, the business intelligence firm co-founded by Bitcoin bull Michael Saylor, has significantly ramped up its Bitcoin acquisition strategy, surpassing 400,000 BTC in holdings. However, concerns about the company’s financial stability tied to the Bitcoin price have emerged, particularly from Ki Young Ju, CEO of CryptoQuant. Ju cautioned that while the prospect of MicroStrategy facing bankruptcy is not impossible, it would require an event as unlikely as “an asteroid hitting Earth.” MicroStrategy’s Financial Risks As Bitcoin Price Floor Holds At $30,000 In a recent post on X (formerly Twitter), Ju elaborated on the matter by stating that BTC has maintained a consistent price floor, never dropping below the long-term cost basis of major holders, which currently stands at $30,000. He noted: MicroStrategy’s debt is $7 billion, while its Bitcoin holdings are valued at $46 billion. Based solely on Bitcoin, the liquidation price would be around $16,500. The last cycle’s bottom was at $16,000. Talking about a drop to that level now feels as improbable as predicting $3,000 when Bitcoin was at $60,000. Related Reading: Ethereum Reaches $4,100 For The First Time In Over Three Years, Aiming For $5,000 Next In the context of current price movements, CryptoQuant noted that the price surge toward BTC’s new all-time high above $108,000 on Tuesday was fueled by short liquidations totaling approximately $151 million over the past 12 hours, The firm disclosed that the Bitcoin-to-gold ratio also reached an all-time high during this surge, reinforcing Bitcoin’s reputation as “digital gold” and affirming its role as a preferred store of value compared to traditional gold assets. Additionally, MicroStrategy’s recent inclusion in the Nasdaq 100 has bolstered market sentiment. Saylor hinted at further Bitcoin purchases, even with spot prices exceeding $100,000. CryptoQuant asserts that this inclusion could lead to passive fund inflows into MicroStrategy shares, providing the company with greater access to capital for its Bitcoin acquisitions. BTC Purchases For Sixth Consecutive Weeks Saylor stated on Monday that Microstrategy has purchased the market’s leading crypto for the sixth week in a row. This transaction adds to the firm’s considerable Bitcoin portfolio, which currently stands at 439,000 BTC, acquired for around $27.1 billion at an average price of $61,725 per coin. Additionally, Saylor revealed that the firm’s Bitcoin assets have produced significant gains, with a 46.4% increase quarter-to-date (QTD) and a 72.4% gain year-to-date (YTD). Related Reading: Solana Monthly Chart ‘Looks Ready For A Monster Run’ – Details CryptoQuant also noted that this week’s central bank meetings appear to be secondary to market sentiment surrounding Bitcoin. While it remains highly unlikely, an “extremely dovish stance” from the Federal Reserve and Chairman Jerome Powell could provide the necessary momentum for BTC to rise even further. At the time of writing, BTC is trading at $104,140, down 2.6% on the 24-hour time frame but still up 6.5% on the week. Featured image from DALL-E, chart from TradingView.com
Michael Saylor has raised $6 billion in convertible bonds, with $18 billion more to come. His strategy is unprecedented — here’s how it works.
MicroStrategy’s steady Bitcoin purchases could send its market cap above Starbucks and Nike if BTC rallies above $138,000.
In a statement on X, Ki Young Ju, CEO of CryptoQuant, a leading on-chain analytics firm, provided a stark assessment of MicroStrategy’s financial health in relation to its Bitcoin investments. Can MicroStrategy Go Bankrupt? Ju stated, “MicroStrategy only goes bankrupt if an asteroid hits Earth. For 15 years, Bitcoin has never dropped below the cost […]
Michael Saylor’s Microstrategy has just announced a new Bitcoin purchase that has taken the firm’s total holdings to 439,000 BTC. Microstrategy Has Bought Another 15,350 BTC A large buyer that has had a constant presence during this latest Bitcoin bull run has been Microstrategy. The cryptocurrency’s price has been racing up while the company has […]
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 Saylor announced that MicroStrategy acquired an additional 15,350 BTC for approximately $1.5 billion, averaging around $100,386 per Bitcoin. This acquisition contributes to the firm’s substantial Bitcoin portfolio, which now totals 439,000 BTC, purchased for about $27.1 billion at an average price of $61,725 per Bitcoin. Related Reading: Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum? Interestingly, Saylor also disclosed in a social media post on X (formerly Twitter) that the firm’s Bitcoin holdings have yielded notable returns, boasting a 46.4% gain quarter-to-date (QTD) and 72.4% gain year-to-date (YTD). This bullish momentum in the market follows increased optimism since November 5, when President-elect Donald Trump secured a new term in the White House with key promises made throughout the year to the industry. Investors are now confident that Trump’s new administration would make regulatory changes that could create a more favorable climate for digital assets. The US crypto market has encountered considerable difficulties in recent years, particularly from the US Securities and Exchange Commission (SEC). Microstrategy’s MSTR Rises 3% On Nasdaq 100 News The recent uptick in Bitcoin’s price is further evidenced by a significant trading volume increase, with CoinGecko reporting a $92 million surge in the past 24 hours—a 54% increase compared to the previous day. However, MicroStrategy’s aggressive Bitcoin investment strategy has not only influenced the cryptocurrency market but has also positively affected its stock (MSTR) price. Following the announcement that MicroStrategy would be listed on the Nasdaq 100 index last week, shares of the company rose over 3% in premarket trading. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ The inclusion in the Nasdaq 100—a benchmark for technology stocks—takes effect on December 23 and is expected to attract significant investment flows, potentially leading to $2.1 billion in stock purchases from over 200 exchange-traded products that track the index. Bernstein analyst Gautam Chhugani remarked on Monday that MicroStrategy’s strategy to Bitcoin purchase is “unprecedented,” establishing the company as the largest corporate Bitcoin owner, with around 2% of the total supply. Chhugani commented: MSTR’s Bitcoin buying program is unprecedented on the street, and inclusion in Nasdaq 100 further improves MSTR’s market liquidity, expanding its capital flywheel and Bitcoin buying program. At the time of writing, BTC has managed to consolidate at $103,900 for the past few hours after surging to new all-time highs. The market’s leading crypto recorded gains of 2% and nearly 6% in the 24-hour and weekly time frames, respectively. Featured image from DALL-E, chart from TradingView.com
MicroStrategy’s latest Bitcoin purchase brings its total BTC holdings to 439,000 BTC, bought at the aggregate purchase price of $27.1 billion.
The self-described Bitcoin Development Company became one of the 75 largest non-financial firms in the Nasdaq after its explosive growth this year.
The purchase came amid reports that the Bitcoin mining company was under pressure from activist investor Starboard Value.
This year was good for crypto, but 2025 might turn out even better for the sector, according to Bitwise Asset Management.
Bloomberg Intelligence expects MicroStrategy’s stock, MSTR, to join the Nasdaq 100 index later in December, with an announcement to come as soon as this week.
MicroStrategy is currently in a critical juncture, as it is in the process of integrating into the Nasdaq 100 index. It is anticipated that the decision will be officially announced on December 13 and will be implemented on December 23. Related Reading: Justin Sun $119 Million Ethereum Sell-Off – Market Strategy Or Warning Sign? A […]
The increases partly reflect a “HODL premium” akin to MicroStrategy’s, the analysts said.
The company’s board opposed the resolution, citing Bitcoin’s purported volatility as a negative factor.
The negative vote was expected even as MicroStrategy Executive Chairman Michael Saylor tried to convince Microsoft shareholders otherwise.
Most companies were leery of Saylor’s strategy when he started amassing bitcoin back in 2020. Some are no longer skeptical.
MicroStrategy’s stock premium has benefited from a virtuous cycle in the bull market. It will eventually reverse course.
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 price appreciation. Microstrategy’s Bitcoin Stash Surpasses Nvidia According to a filing with the US Securities and Exchange Commission (SEC), MicroStrategy purchased 21,550 Bitcoin tokens between December 2 and December 8 for an average price of $98,783 per token. Over the last four years, Saylor and his firm have amassed Bitcoin worth more than $41 billion, a move he undertook to shift the software company’s survival strategy. Saylor said in October that it would fund $42 billion over three years through a combination of at-the-market stock sales and convertible debt offers, bolstering the firm’s BTC acquisition strategy. The rate at which MicroStrategy is accumulating Bitcoin has accelerated substantially in the month since Donald Trump’s election on November 5; it took nearly a year to amass its first 100,000 coins, but just two weeks to grow its holdings from 300,000 to 400,000. This vast Bitcoin stash is now worth more than the cash reserves of computer behemoth Nvidia Corp., as well as nearly all non-financial corporations listed on the S&P 500 Index. Liquidity And Credit Concerns Despite BTC’s bullish outlook, researchers believe MicroStrategy’s method is not risk-free. In four of the last five weeks, the firm has purchased Bitcoin at an average price higher than the average market price, raising questions about the approach’s long-term viability. The company’s stock, MSTR, has increased by more than 500% this year, generating significant interest from investors, while hedge funds have begun to acquire its notes for market-neutral arbitrage methods, capitalizing on Bitcoin’s volatility. However, analysts warn that continued dependence on Bitcoin could be risky. Min Jung, a research analyst at Presto Research, pointed out that while BTC’s rising prices create a positive feedback loop—in which higher stock prices permit more fundraising for further Bitcoin purchases—this cycle is strongly dependent on the crypto’s rise. “If the market turns, the consequences could be severe,” Jung told Bloomberg. A significant drop in Bitcoin’s market value could imperil the company’s financial viability, raising liquidity and credit concerns. Outside of its major enterprise analytics software market, the company’s income creation opportunities would be restricted. Gracy Chen, CEO of cryptocurrency exchange Bitget, expressed these fears, noting that a drop in Bitcoin prices might jeopardize MicroStrategy’s ability to manage its rising debt levels. “The firm’s massive BTC holdings pose a market concentration risk,” Chen explained. “A large-scale sell-off could lead to significant price fluctuations, affecting not just Bitcoin but the wider cryptocurrency ecosystem.” At the time of writing, BTC is trading at $97,700, down 3% in the last 24 hours. Featured image from DALL-E, chart from TradingView.com
MicroStrategy, a US-based business intelligence firm, has expanded its Bitcoin (BTC) holdings as part of its corporate treasury strategy. The company announced its latest purchase of 21,550 BTC, worth approximately $2.1 billion. MicroStrategy Unfazed by Bitcoin’s Historic Price Surge In an official announcement today, the publicly-traded company had acquired an additional 21,550 BTC. This purchase […]
This latest buying spree brought the company's total holdings to 423,650 tokens worth nearly $42 billion.
MicroStrategy keeps stacking Bitcoin despite BTC hitting all-time high prices, with its co-founder Michael Saylor confident that his company will still buy it at $1 million per coin.
The year 2024 will be one for the history books for the cryptocurrency industry and, especially, for Bitcoin. After kickstarting the year with the approval of spot exchange-traded funds (ETFs), it didn’t take long before the premier cryptocurrency rode on the back of fresh institutional capital to a new all-time high. This has pretty much […]
Nasdaq-listed medical device manufacturer Semler Scientific has expanded its Bitcoin (BTC) holdings, acquiring an additional 303 BTC for $29.3 million. The company continues to double down on its MicroStrategy-inspired corporate treasury strategy. High Bitcoin Price Not A Barrier To Purchase Bitcoin made history this week by surpassing the $100,000 price level for the first time, […]
US spot Bitcoin ETFs now collectively hold more Bitcoin than is estimated to be held by the anonymous Bitcoin creator, Satoshi Nakamoto.