The record-breaking surge signals the market’s optimism about Trump’s crypto promises.
Michael Saylor’s software company-turned-Bitcoin development firm MicroStrategy has added to its Bitcoin stack.
The ongoing deliberations surrounding Donald Trump’s Treasury Secretary candidacy are creating ripples in the cryptocurrency sector, reflecting a pivotal moment for digital assets in U.S. policy. As Trump pivots from
According to the latest development, cryptocurrency exchange Coinbase announced that it will list the io.net (IO) altcoin on the futures market. *This is not investment advice. Continue Reading: JUST IN: Coinbase Announces It Will List An Altcoin In Futures
Business intelligence firm MicroStrategy has ramped up its Bitcoin (BTC) investment following President-elect Donald Trump’s victory in the presidential election. This pivotal moment on November 5 has provided a catalyst for the broader crypto market, further encouraging investment in digital assets. Bitcoin Holdings To Over $29 Billion Led by Bitcoin advocate Michael Saylor, MicroStrategy disclosed on Monday that it has acquired approximately 51,780 Bitcoin for around $4.6 billion. This acquisition marks the largest purchase by the company since it began its Bitcoin buying strategy more than four years ago. According to a filing with the US Securities and Exchange Commission, the tokens were purchased between November 11 and November 17. With this latest acquisition, MicroStrategy’s total Bitcoin holdings now exceed $29 billion or 331,200 BTC. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target Saylor’s journey into Bitcoin began in 2020 as a strategy to hedge against inflation. Initially funded through cash reserves, the company has since pivoted to using proceeds from stock issuances and convertible debt sales to enhance its purchasing power in the cryptocurrency market. Michael Saylor has also reaffirmed his commitment to this strategy. He aims to raise $42 billion over the next three years to further strengthen the company’s BTC portfolio and transform Microstrategy into a leading crypto bank. BTC Yield Rises To 20.4% Amid Market Optimism Recent data from South Korea-based crypto analytics firm CryptoQuant highlights the impact of MicroStrategy’s latest purchase on its Bitcoin statistics: BTC Holdings: Increased from 279,420 BTC to 331,200 BTC MSTR Realized Price: Rose from $42,692 to $49,874 MSTR Market Value to Realized Value (MVRV): Adjusted from 2.12 to 1.80 Percentage of BTC Owned by MicroStrategy: Increased from 1.412% to 1.674% This latest transaction follows closely on the heels of another significant acquisition on November 11, during which Saylor noted that the company’s treasury operations had yielded an 7.3% in Bitcoin, translating to a net benefit of approximately 18,410 BTC for shareholders. However, with Monday’s announcement and the notable uptrend in the Bitcoin price over the past two weeks, Saylor revealed that these metrics have risen to a BTC yield of 20.4% and a net benefit to shareholders of 51,470 BTC. Related Reading: Bitcoin Miners Sold Over 3,000 BTC In The Past 48 Hours – Consolidation Phase Ahead? The correlation between MicroStrategy’s stock (MSTR) and Bitcoin’s price has also been particularly noteworthy in recent weeks. Following Bitcoin’s record high of $93,300 on November 13, MicroStrategy’s stock also reached an all-time high of $383. Yet, as the leading digital asset of the market retraced to around $90,650—a 9% increase over the past week—MSTR’s share price also declined to approximately $359 over the past weekend, underscoring the strong relationship between the cryptocurrency and the firm’s stock performance. Featured image from DALL-E, chart from TradingView.com
The issue appears to be personal drama, but the development could nonetheless have a major impact on the Treasury’s digital assets outlook.
Dutch fintech firm Quantoz has announced the launch of stablecoins EURQ and USDQ, pegged to the euro and US dollar respectively. Continue Reading: Kraken-Backed Fintech Firm Announces Launch of Two New Stablecoins!
The post Elon Musk Reveals He Still Holds Dogecoin, Spacex Owns ‘A Bunch of Bitcoin’ appeared first on Coinpedia Fintech News During a discussion on X Spaces, Tesla CEO Elon Musk revealed that he still owns a bunch of dogecoin and his company SpaceX still owns a bunch of bitcoins. This comes at a time when the community is awaiting a rally for these assets and Bitcoin to soon transcend the significant $100,000 mark. The Tesla …
Coinbase Perp to List IO Coin ————— 💰Coin: IO ( $IO ) $2.44 ————— NFA.
The crypto market’s latest buzz comes from an unexpected source – a presale that sold out its first stage in under an hour. Best Wallet (BEST) has introduced its native token to the public for the first time. Packed with features and exclusive access for early adopters, this Web3 project may be primed to explode