MicroStrategy co-founder and executive chairman says his company is re-branding as a bitcoin development company during CNBC interview.
BTC mining stocks and MicroStrategy notch double-digit gains as Bitcoin price hits a 2-year high.
Whether Bitcoin’s era has begun is hard to say, but the challenges to broader adoption may be the last breath of a prolonged crypto winter.
The recently launched spot bitcoin ETFs, excluding Grayscale's GBTC, added nearly another 5,000 tokens to their holdings yesterday, and now at more than 192,000 BTC, hold more of the crypto than MicroStrategy (MSTR), whose total stood at 190,000 as of the end of January.
The decline happened as bitcoin spiked above $45,000 during the day as traders anticipate an imminent spot BTC ETF decision in the U.S.
MicroStrategy and Coinbase marked 6% and 9% gains respectively, before the bell in New York
U.S.-listed companies rode bitcoin's bullish momentum to show significant gains in pre-market trading, including COIN, MSTR, MARA and RIOT.
The U.S. SEC has selected a cash creation and redemption mechanism to mitigate market manipulation risks surrounding a spot Bitcoin ETF.
Early investors in MSTR can consider taking profit as shares appear overvalued and could fall by 20%, according to 10x Research.
The company is financing its Bitcoin purchases with long-term, low-interest debt and share issuance.
A large increase in demand coupled with lower supply should set the stage for higher prices in 2024, he told Bloomberg.
Short sellers have lost more than $6 billion trying to bet against crypto stocks in 2023.
Bitcoin is trading at levels previously seen in April 2022, shrugging off a tough year marked by several implosions and regulatory clampdowns.
MicroStrategy is also looking to raise up to $750 million in a sale of class A common stock.