Metplanet to issue one-year bonds to finance BTC purchases.
This week’s Crypto Biz features MicroStrategy’s Bitcoin strategy, Coinbase’s and Kaiko’s recent acquisitions, MARA’s third-quarter earnings, and MoonPay’s new fiat gateway.
Genius Group has recently reshuffled its board with crypto and Web3 execs and is now targeting to hold $120 million in Bitcoin.
SolFi is a spinoff of the crypto investment platform focused exclusively on Solana, DeFi Technologies said.
Bitcoin and ether ETF inflows soared on one of the biggest days in the BTC's history.
Bitcoin clinched another all-time high of $88,448 on Monday, surging 11% over the past 24 hours.
On Monday, business intelligence firm Microstrategy announced the purchase of additional Bitcoin (BTC) as the largest cryptocurrency on the market hit a new all-time high of $82,500, with increased inflows into various sectors of the ecosystem over the past week. MicroStrategy Now Holds Nearly $23 Billion In Bitcoin In a social media post by Bitcoin bull Michael Saylor, the company announced that it had acquired approximately 27,200 BTC for approximately $2.03 billion. This transaction is one of the largest BTC purchases to date by a corporate entity but in line with the company’s strategy to integrate crypto into its financial framework. According to a statement released Monday, these acquisitions took place between October 31 and November 10, using proceeds from recent stock sales. With this latest purchase, MicroStrategy now holds nearly $23 billion in Bitcoin, totaling approximately 279,420 BTC with an average purchase price of about $42,692 per Bitcoin. Related Reading: PEPE Upsurge Stalls At Key Resistance, Eyeing Support At $0.00001152 Michael Saylor also revealed that the company’s MSTR treasury operations since the beginning of November have resulted in a BTC yield of 7.3%, representing a net benefit to shareholders of nearly 18,410 Bitcoin. However, this strategy has also had a notable impact on Microstrategy’s stock MSTR, which jumped 11% on Monday as the announcement was made and is currently trading at approximately $299 per share, up from $270 the previous week. Post-Election Bull Run The current uptrend in Bitcoin’s price also coincides with a notable shift in investor sentiment following Donald Trump’s victory in the recent US presidential election against Vice President Kamala Harris. According to CoinShares, digital asset investment products experienced inflows of $1.98 billion following the election, marking the fifth consecutive week of positive inflows and bringing the year-to-date total to a record $31.3 billion. Along with the largest cryptocurrency on the market, the overall global assets under management (AuM) in cryptocurrencies have reached an all-time high of $116 billion. The inflows were predominantly driven by US investors, who contributed $1.95 billion, while European markets also saw smaller inflows, particularly in Switzerland and Germany. Bitcoin alone attracted $1.8 billion of these inflows, reflecting a broader trend that has emerged since the US Federal Reserve (Fed) cut interest rates in September. Related Reading: Dogecoin (DOGE) Soars 50% In a Flash: Is More Upside Ahead? Susannah Streeter, head of money and markets at Hargreaves Lansdown, noted that the bullish momentum in the crypto market is fueled by a sense of “euphoria” following Trump’s election. Streeter commented that his pledge to ‘go all in on crypto’ has sent BTC to “new, heady heights,” and ultimately believes that Trump’s shift towards supporting the cryptocurrency industry has created a more favorable regulatory environment, boosting investor confidence. In further support of this sentiment, Citi strategists highlighted that cryptocurrencies remain one of the few Trump-related trades that have not retraced. They noted that his administration’s expected crypto-friendly policies could lead to greater regulatory clarity in the US, further encouraging investment. Overall, as Bitcoin continues its uptrend, some predict that BTC could reach the $100,000 milestone by the end of the year, driven by a combination of favorable market conditions and growing institutional adoption. At the time of writing, the market’s leading crypto is trading at $82,479, up 20% in the past week alone. Featured image from DALL-E, chart from TradingView.com
MicroStrategy’s latest announcement shows that its Bitcoin holdings have reached 279,420 BTC, worth almost $23 billion.
MicroStrategy has announced a major Bitcoin acquisition, securing approximately 27,200 BTC for $2.03 billion between Oct. 31 and Nov. 10, according to a Nov. 11 statement. This purchase comes amid a broader crypto market rally that has seen Bitcoin price rally to a new all-time high of more than $82,000. However, the Michael Saylor-led company […]
The post MicroStrategy shares rise 10% after $2 billion Bitcoin acquisition at $74.4k appeared first on CryptoSlate.
The company's bitcoin yield thus far this quarter is 7.4% and over 26% year-to-date.
As bitcoin climbs above $82,000, U.S. crypto equities are soaring in pre-market trading, with Semler Scientific leading with a 25% gain.
MSTR has surged over 486% in the past 12 months, with the company planning to expand its Bitcoin holdings through a $42 billion purchase by 2027.
MicroStrategy and Coinbase both added 12%, with bitcoin miners also gaining more than 10% in pre-market trading.
Santa Clara-based healthcare tech company Semler Scientific (SMLR) recently disclosed that it purchased an additional 47 Bitcoin (BTC), bringing its total holdings to 1,058 BTC. Semler Scientific Continues To Increase Its BTC Holdings Semler Scientific, a Nasdaq-listed healthcare manufacturer, announced that it bought an additional 47 BTC for $3 million. This acquisition comes as Bitcoin […]
The company needs financing conditions to remain agreeable, and there needs to be continued investor demand for the firm's convertible debt, the report said.
MicroStrategy’s (MSTR) Bitcoin (BTC) play garners attention as Canaccord recently dubbed its ‘intelligent leverage strategy’ ideal for investors to gain exposure to BTC. MicroStrategy Stock Ideal For Gaining Bitcoin Exposure In a research report published yesterday, financial services firm Canaccord reiterated that buying MicroStrategy stocks remains one of the best ways for investors to gain […]
The broker raised its price target for the software company to $300 from $173 while maintaining its buy rating.
MicroStrategy has shocked the crypto community with its latest plans to increase its Bitcoin stash by 4X with an impressive $42 billion capital plan. Known for its unwavering Bitcoin accumulation strategy, MicroStrategy has consistently purchased BTC, solidifying its position as the world’s largest corporate holder of the cryptocurrency. If the company can increase its BTC stash […]
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.
MicroStrategy has unveiled a bold three-year plan to raise $42 billion in capital aimed at expanding its Bitcoin holdings significantly, according to an Oct. 30 statement. Dubbed the “21/21 Plan,” this strategy intends to gather $21 billion from equity and an additional $21 billion through debt, with the funds directed toward increasing the company’s Bitcoin […]
The post MicroStrategy plans $42 billion bitcoin expansion with bold ’21/21 Plan’ appeared first on CryptoSlate.
The T-REX 2X long MSTR Daily Target ETF (MSTU) has rallied 235% since its introduction six weeks ago, an annualized equivalent return of 57,000%, according to Bloomberg analysis.
A notable outperformer was bitcoin miner Bitfarms, which nominated a new board member amid its proxy battle with Riot Platforms.
Japan-based investment firm Metaplanet has now accumulated over 1,000 Bitcoin (BTC) with its latest acquisition, establishing itself as one of Asia’s largest corporate holders of the digital asset. Metaplanet’s Bitcoin Holdings Top 1,000 BTC In an announcement made on October 28, Tokyo-listed Metaplanet stated it had purchased an additional 156.78 BTC at an average price of $66,436 per BTC. The latest purchase has propelled Metaplanet’s total BTC holdings to 1,018 BTC, acquired at an average price of $61,629. Related Reading: Bitcoin Begins Month With A Rebound As Metaplanet’s BTC Investment Tops $10 Million Commenting on the milestone, Metaplanet CEO Simon Gerovich noted, “This latest BTC purchase makes Metaplanet one of the largest corporate holders of Bitcoin in Asia.” The company further stated: Since adopting bitcoin as a treasury reserve asset, the company has strategically increased its total bitcoin holdings through acquisitions funded by capital market activities and operational income. Metaplanet first declared its decision to adopt Bitcoin as a strategic reserve asset in May 2024. Adhering to a “Bitcoin-first, Bitcoin-only” approach, Metaplanet further expanded its BTC holdings with a $2 million purchase in September. Over the summer, Metaplanet embarked on a Bitcoin acquisition spree, purchasing more than 50% – approximately 620 BTC – of its current holdings within a single month, from September 30 to October 28. Notably, this acquisition has now placed Metaplanet ahead of another prominent Asian firm, Meitu Inc., in terms of total BTC reserves. According to CoinGecko data, Meitu Inc. currently holds 940 BTC compared to Metaplanet’s 1,018 BTC. Among publicly traded companies with significant BTC reserves, Metaplanet now ranks 15th, with the list led by US-based business intelligence firm MicroStrategy, which holds an impressive 252,220 BTC, representing close to 1.2% of the total Bitcoin supply. BTC Strategy Reflecting In Metaplanet’s Share Price According to Arkham Intelligence, Metaplanet’s BTC investment strategy appears to be yielding strong results. At the current Bitcoin price of slightly above $67,000, Metaplanet has an unrealized gain of over $6 million. Related Reading: Bitcoin Retail lnvestors Remain Cautious Despite Price Gain – Details In its announcement, Metaplanet highlighted a key performance indicator (KPI) called “BTC yield,” which reflects the percentage change in the ratio of total BTC holdings to fully diluted shares outstanding over a specific period. In essence, the KPI helps investors assess the impact of Metaplanet’s Bitcoin acquisitions on shareholder value. Between October 1 and October 28, Metaplanet’s BTC yield surged to 155.8%. Following the news of today’s BTC purchase, Metaplanet’s stock price jumped more than 7%, according to data from Yahoo! Finance. In related news, Maltese asset management firm Samara Group recently announced plans to issue bonds worth over $32 million, with a portion of the proceeds potentially allocated toward BTC purchases as a strategic reserve asset. At press time, BTC trades at $68,780, up 1.6% in the past 24 hours, with a total market cap of slightly more than $1.35 trillion. Featured image from Unsplash, Chart from Tradingview.com
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
Bitcoin prices are steady above the $66,000 support when writing on October 25. While confidence is high, the coin is still trending below the psychological round at $70,000. It has yet to shake off sellers in early October. Demand For Spot Bitcoin ETFs Shoots To A 6-Month High However, looking at emerging spot Bitcoin ETF […]
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MicroStrategy is up over 1,500% since 1999 compared to Microsoft’s 1,460% gains during the same 25-year period.