Saylor said in an earlier earnings call that he will use the proceedings to meet personal obligations and buy additional bitcoin to his personal account.
Major Acquisition: MicroStrategy Grows Bitcoin Reserves By 14K BTC Ahead Of ETF Approval
MicroStrategy (MSTR), a prominent Bitcoin holding company, has once again expanded its BTC holdings with a substantial purchase of 14,620 Bitcoin, amounting to a staggering $615.7 million.
The former CEO of the American business intelligence (BI) firm announced the acquisition, highlighting the company’s continued confidence in Bitcoin’s long-term potential.
With the potential approval of Bitcoin spot exchange-traded funds (ETFs) on the horizon, MicroStrategy aims to capitalize on the positive impact on BTC’s price and the company’s profitability in the leading cryptocurrency market.
MicroStrategy Stock Skyrockets 337%
According to a CNBC report, MicroStrategy’s stock has experienced a remarkable 337% surge in 2023, making it one of the top gainers among US companies valued at $5 billion or more.
This success surpasses the rallies of industry giants like Nvidia and Meta. Unlike its tech peers, MicroStrategy’s appeal to investors stems primarily from its Bitcoin holdings.
MicroStrategy’s market capitalization currently stands at $8.5 billion, with a staggering 90% directly tied to its Bitcoin holdings. The company’s stock price closely mirrors the performance of Bitcoin, with significant fluctuations in response to the cryptocurrency’s price movements.
Per the report, in 2022, when Bitcoin experienced a 64% decline, MicroStrategy’s stock plummeted by 74%. Despite the substantial gains achieved this year, MicroStrategy shares are still below their peak levels in 2021, during the cryptocurrency’s peak.
Michael Saylor’s Vision
MicroStrategy’s decision to invest in Bitcoin dates back to July 2020, when the company recognized the potential of alternative assets, including digital currencies.
At that time, MicroStrategy had a market capitalization of around $1.1 billion, primarily driven by its software business, which has been shrinking since 2015. Co-founder Michael Saylor, who was CEO then, saw an opportunity to put the company’s idle cash reserves to work, considering low interest rates and the need for diversification.
Saylor’s conviction in Bitcoin as a digital form of gold led MicroStrategy to prioritize Bitcoin purchases over equities and precious metals. This strategic move exposed investors to Bitcoin indirectly through MicroStrategy’s stock.
Saylor, who transitioned to executive chairman, remains optimistic about Bitcoin’s future, expecting the bull market to continue into the next year. Despite its growing popularity, Saylor emphasized that Bitcoin still represents only a fraction of global capital allocation, with ample room for further growth.
As of December 27, 2023, MicroStrategy’s latest purchase adds to its already impressive Bitcoin portfolio, bringing the total holdings to 189,150 BTC.
The company has invested approximately $5.9 billion, with an average purchase price of $31,168 per Bitcoin. These strategic acquisitions position MicroStrategy as a major player in the crypto space, aligning its interests with the anticipated growth and adoption of Bitcoin.
The current market data shows that Bitcoin is trading at $42,900, reflecting a marginal 0.5% increase over the past 24 hours. The cryptocurrency briefly dipped below its critical support level of $42,000 but has since regained its position.
The market is anticipating the potential approval of the Bitcoin Spot ETF applications between January 5 and 10, 2024.
This development holds significant promise for Bitcoin, as it could drive the cryptocurrency’s price well beyond $50,000, establishing a new yearly high and edging closer to its historical peak.
Featured image from Shutterstock, chart from TradingView.com
MicroStrategy’s Michael Saylor Calls Bitcoin An Institutional-Grade Asset Destined For $1 Million
Microstrategy’s Executive Chairman and Co-founder, Michael Saylor, is one who always uses every opportunity to heap praises on the flagship cryptocurrency Bitcoin. Once again, he didn’t disappoint, as BTC was the center of discussion in his latest media appearance.
Bitcoin Going To $1 Million
In an interview with CNBC, Michael Saylor stated that Bitcoin is going to $1 million if it isn’t going to “zero.” He noted that the “big question” in relation to BTC’s potential was whether or not the digital asset was legitimate. According to him, if Bitcoin is a “legitimate institutional asset,” then everybody is “under-allocated” to it.
His comment about Bitcoin possibly hitting $1 million seems to stem from his belief that Bitcoin as an asset is still untapped, as he expects many institutional players to get in on the crypto token. He noted how 99.9% of the world’s capital is currently tied to other global assets like bonds, real estate, stocks, and precious metals. However, expects that to change soon enough.
That change, he believes, will stem from education about digital assets. From that, Saylor says more and more people will realize that they ought to be allocating more and more of their capital to digital assets. Interestingly, he labeled BTC as a “digital transformation of capital,” alluding to its disruptive nature.
These institutional players could well be allocating more of their capital to BTC as early as 2024. The new rule by the Financial Accounting Standards Board (FASB) recently opened the door for firms to include cryptocurrencies like Bitcoin on their balance sheet. As such, we could see other tech firms adopt Microstrategy’s “Bitcoin Strategy.”
BTC Is Going Foward In 2024
Saylor also discussed several macro factors that he considers bullish for Bitcoin going into the new year. These factors include the potential approval of a Spot Bitcoin ETF, the loosening of monetary policies, and wider BTC adoption in countries suffering from inflation.
He also alluded to the BTC Halving event, which he believes is also bullish for the Bitcoin ecosystem. All these factors form a “confluence of very bullish milestones,” which Saylor projects are going to happen over the next six months.
Saylor will undoubtedly be fulfilled when his company’s Bitcoin strategy has panned out as Microstarategy is currently in profit with its Bitcoin acquisitions. The company’s stocks are also flying high as it recently hit a 2-year high, thanks in part to its BTC exposure.
At the time of writing, BTC is currently trading at around $43,000, up over 4% in the last 24 hours according to data from CoinMarketCap.
Investment firm floats yield-bearing ETF based on MicroStrategy stock
Investment firm YieldMax has applied to launch an ETF allowing investors to earn monthly yields on MicroStrategy shares.
Holding For Gold: Micheal Saylor’s Poll Unveils Bitcoin Enthusiasts Aiming For $1 Million Mark
Recently, Michael Saylor, the founder of MicroStrategy and a prominent Bitcoin (BTC) proponent, took to social media to gauge the Bitcoin community’s sentiment on the future price of the digital asset.
Saylor, who has transitioned from CEO to head of Bitcoin strategy at MicroStrategy, posed a significant question to the Bitcoin community on X. Saylor’s inquiry was straightforward yet profound: “How high will BTC need to rise before you would consider selling a small portion of your Bitcoin?”
This question, aimed at understanding the threshold that might trigger selling decisions, garnered extensive attention, with roughly 122,839 individuals participating in the poll. The answers, revealing the mindset of the Bitcoin community, ranged from moderate to extremely bullish sentiments.
Surprising Results: Majority Eye $1 Million Bitcoin Threshold
The survey results painted a fascinating picture of the BTC community’s outlook. While a minority of respondents, 18.8% and 14.1%, selected $250,000 and $500,000 price points, a significant portion of the community leaned towards much higher figures.
Notably, 36.3% of voters indicated a price range from $1 million to never selling their Bitcoin holdings, highlighting a strong belief in BTCs long-term value. Additionally, 30.8% of participants marked $100,000 as their potential selling point.
Saylor’s survey revealed the community’s predominant inclination to hold BTC until it reaches or surpasses the $1 million mark. Some were willing to hold indefinitely, reflecting a deep-rooted confidence in Bitcoin’s future.
How high will $BTC need to rise before you would consider selling a small portion of your #Bitcoin?
— Michael Saylor
(@saylor) December 6, 2023
Institutional Capital And Halving Events: Catalysts For A $1 Million BTC
As the crypto space closely watches these survey results, the $1 million price point for Bitcoin is increasingly viewed as a realistic possibility by many enthusiasts and experts alike. Samson Mow, the CEO of Jan3 and a vocal BTC advocate, recently supported this view.
Mow agreed with the general sentiment of Saylor’s survey, stating that while “Balaji wasn’t wrong about BTC going to $1M,” he was perhaps wrong about the timing and the driving factors.
Mow attributed the potential surge to a confluence of significant institutional investment and the impact of Bitcoin halving events. The halving, a scheduled reduction in BTC mining rewards, inherently limits the new supply of Bitcoin, thereby introducing a scarcity factor.
Coupled with a projected influx of institutional capital into the crypto market, these factors could collectively catalyze Bitcoin’s price to unprecedented heights. Mow’s analysis aligns with the optimism reflected in Saylor’s survey, underlining a solid belief in Bitcoin’s capacity for substantial value growth.
Balaji wasn’t wrong about #Bitcoin going to $1M, but he was wrong on the timing and the catalyst.
My $1M call is based on a massive rapid influx of institutional capital while Bitcoin available for sale is at historical lows, compounded by the halving.
His $1M prediction was…
— Samson Mow (@Excellion) December 6, 2023
It is worth noting that this optimism within the Bitcoin community, coupled with expert insights, suggests a future where Bitcoin’s valuation might reach, or even exceed, the coveted $1 million mark.
Featured image from Unsplash, Chart from TradingView
MicroStrategy Boosts Bitcoin Holdings With $590 Million Purchase, Totaling 174,530 BTC
In a testament to its unwavering confidence in Bitcoin (BTC), MicroStrategy, one of the largest Bitcoin holding companies, has once again expanded its cryptocurrency portfolio.
The company’s former CEO, Michael Saylor, announced the acquisition of an additional 16,130 BTC, valued at approximately $593 million. This strategic move comes as Bitcoin enters a phase of accumulation above the $37,000 mark.
MicroStrategy Adds To Bitcoin Stash
As announced, MicroStrategy’s latest purchase was made at an average price of $36,700 per Bitcoin. With this acquisition, the company’s total Bitcoin holdings now stand at an impressive 174,530 BTC.
Throughout 2023 and previous years, MicroStrategy has consistently demonstrated its commitment to BTC, accumulating a substantial amount of the cryptocurrency.
The total cost of MicroStrategy’s Bitcoin investments exceeds $5.20 billion, with an average purchase price of $30,252 per Bitcoin. This significant investment reflects the company’s long-term bullish outlook on Bitcoin’s potential as a store of value and hedge against inflation.
As reported by NewsBTC, the company has reaped substantial gains from the recent uptrend in the overall cryptocurrency market and Bitcoin’s impressive price surge. With BTC experiencing a 36% increase since October, Microstrategy has now amassed over $1 billion in unrealized profits.
Notably, Bitcoin’s positive performance has directly impacted Microstrategy’s stock, traded under the ticker name MSTR. The stock has witnessed a significant surge in value, closely tied to the ongoing bullish momentum of BTC.
On November 9, as Bitcoin reached its previous yearly high of $38,000, the price of MSTR stock also soared to an all-time high (ATH) of $533 per share. This milestone further proves Microstrategy’s successful investment strategy over the past three years.
Michael Saylor, a prominent advocate for Bitcoin, has been a vocal proponent of the cryptocurrency, emphasizing its superior qualities compared to traditional fiat currencies.
MicroStrategy’s continued accumulation of Bitcoin reinforces Saylor’s conviction in its long-term prospects and serves as a testament to the company’s belief in the digital asset’s store-of-value properties.
Potential For Short-Term Pullback Looms
In a recent market update by the CryptoQuant author IT Tech, short-term insights on the Bitcoin derivatives market shed light on the current upward momentum and the potential for a minor pullback.
According to the analysis, the ongoing upward momentum in the Bitcoin market heavily relies on perpetual movement. The rising price of Bitcoin has been a key driving force, contributing to the bullish sentiment.
However, the Crypto Volatility Divergence (CVD) Spot indicator suggests a relatively flat movement in spot demand. This indicates that a significant increase in immediate spot demand may not support the current price surge.
In the absence of strong spot demand materializing in the market, IT Tech suggests a possible minor pullback in the near term.
This potential pullback could be attributed to several factors, including profit-taking by traders or a lack of sustained buying pressure from spot investors.
The analysis also highlights the possibility of Bitcoin liquidations in the short term, which could indicate further upward movement to liquidate late short positions.
This suggests that additional buying pressure may be from those who have taken short positions on Bitcoin. As these shorts are liquidated, it could continue the upward trend.
As of the latest update, Bitcoin (BTC) is trading at $37,600, showing a slight decrease of 0.5% over the past 24 hours. However, it has maintained a gain of 1.5% over the past seven days, indicating a period of consolidation for the cryptocurrency
Featured image from Shutterstock, chart from TradingView.com
MicroStrategy Bought $600M of BTC in November, Increased Holdings by 10%
MicroStrategy is also looking to raise up to $750 million in a sale of class A common stock.
MicroStrategy Bought $600M of BTC in November, Increased Holdings by 10%
MicroStrategy is also looking to raise up to $750 million in a sale of class A common stock.
MicroStrategy Bought $600M of BTC in November, Increased Holdings by 10%
MicroStrategy is also looking to raise up to $750 million in a sale of class A common stock.
Demand for Bitcoin could grow by up to 10X within 12 months: Michael Saylor
The MicroStrategy co-founder emphasized that demand for Bitcoin will significantly ramp up following the halving next year.
MicroStrategy’s $4.6 Billion Bitcoin Bet Pays Off, Here’s How Much It’s Worth Now
The cryptocurrency industry has experienced significant growth in recent weeks with an influx of capital. This influx of capital has forced Bitcoin over various price resistances, with the latest being a brief cross over the $37,000 level. MicroStrategy has emerged as a prominent public company that has successfully capitalized on this price push.
MicroStrategy’s blockbuster bet on the world’s largest cryptocurrency has certainly paid off so far. The company has posted over $1 billion in unrealized profit thanks to Bitcoin’s 36% increase from $26,750 since October 13. Shares of MicroStrategy have also risen simultaneously, soaring more than 55% since the same time period.
MicroStrategy’s Bold Bitcoin Bet Paying Off
MicroStrategy started buying in Bitcoin in 2020 but the latest acquisition came in October, amidst the influx of money into Bitcoin, where the company announced it had acquired an additional 155 BTC for $5.3 million.
MicroStrategy now owns a total of 158,245 BTC, acquired at an average total value of $4.68 billion. At BTC’s current price of around $36,500, MicroStrategy’s BTC investment is now worth over $5.77 billion, representing an unrealized 26% return of $1.1 billion in around three years.
The company’s investment in Bitcoin has also paid off on the back end of its stock price, as it has outperformed many stocks and assets since the adoption of its Bitcoin strategy. The share price has shot up 242% from its open price of $145 at the beginning of the year.
At the time of writing, MicroStrategy share is trading at $497, and Michael Saylor noted that this growth has been largely in part to its innovative Bitcoin strategy.
BTC Putting Microstrategy On The Map
MicroStrategy’s Michael Saylor has been an outspoken proponent of Bitcoin. Saylor’s belief in Bitcoin spearheaded MicroStrategy’s investment in the asset, and a cursory look through his social media page on X shows various posts promoting Bitcoin.
#Bitcoin is Coming. pic.twitter.com/5oE42SQvgC
— Michael Saylor
Saylor recently stated, in an interview with Fox Business, that MicroStrategy’s BTC investments were part of a well-planned strategy to rival tech giants like Google, Microsoft, and Apple.
“What we did in August of 2020 was recognize that there’s no way we’re going to outgrow Google and Microsoft and Apple Computer as a mid-sized software company. We realized Bitcoin is like a high-tech dominant digital network growing at 40% or 50% a year, and so we bought it,” he said in the interview.
Saylor also expects the demand for BTC to double in the next 12 months amidst its next halving and the approvals of spot Bitcoin ETFs in the US. Ultimately, he believes that the price of BTC will eventually reach $5 million.
MicroStrategy isn’t the only company with Bitcoin on its balance sheet. Public companies now own a total of 239,494 BTC, representing 1.23% of the total supply. Marathon Digital, Galaxy Digital, and Tesla are a few of these companies, holding 13,286, 12,545, and 10,500 BTC, respectively.
Here’s Why Bitcoin Will 10X From Here: Michael Saylor
The MicroStrategy executive chairman appeared on CNBC on day after the company reported its Q3 earnings.
MicroStrategy Acquired an Additional 155 Bitcoin Since End of Q3
MicroStrategy purchased the bitcoin at an average price of $27,531, according to its earnings report on Wednesday.
MicroStrategy’s Bitcoin bag is up $900M amid BTC price surge
Michael Saylor founded MicroStrategy has bought 6,067 Bitcoin since the start of the third quarter.
MicroStrategy’s Bitcoin Portfolio Soars Past $5 Billion As BTC Holds Firm At $34,000
In a remarkable turn of events for the business intelligence (BI) company MicroStrategy, the recent bullish momentum of Bitcoin (BTC) has resulted in significant profits and a resurgence for the company.
MicroStrategy has returned on a profitable trajectory after a prolonged period of market downturn and losses suffered by companies with cryptocurrency holdings.
MicroStrategy’s Bitcoin Holdings Surge
Just a month ago, MicroStrategy and its subsidiaries made a strategic move by increasing their BTC holdings. According to a filing with the US Securities and Exchange Commission (SEC), the company, co-founded by renowned investor Michael Saylor, added 5,455 BTC to their portfolio, valued at $147 million.
As of the time of writing, MicroStrategy’s Bitcoin holdings stand at a staggering 158,245 BTC, with a total valuation of approximately $4.68 billion.
Over the past 24 hours, Bitcoin has experienced a remarkable upswing, breaking through a long consolidation phase above $27,000 and reaching a new 2023 high. With a significant surge of 12.2%, BTC peaked at $35,300. This surge has unlocked substantial unrealized profits for MicroStrategy.
According to Lookonchain, MicroStrategy’s Bitcoin holdings have generated an estimated unrealized profit of around $746 million.
With BTC’s skyrocketing price, MicroStrategy’s strategic accumulation of 28,560 BTC since May 2022, at an average price of $25,707, has proven profitable.
MicroStrategy’s success in capitalizing on the recent price surge of Bitcoin highlights the company’s strategic approach and belief in the long-term value of the cryptocurrency.
By significantly increasing their Bitcoin holdings, MicroStrategy has positioned itself to benefit from BTC’s continued growth and adoption.
BTC Bears Crushed As $300 Million In Shorts Liquidated
The cryptocurrency market witnessed a stunning surge, resulting in a staggering $100 billion addition to its total market capitalization within a single day. This rapid ascent also triggered a wave of liquidations amounting to over $400 million, with shorts accounting for a significant portion of the losses.
With BTC experiencing a 12% price increase, this led to the liquidation of more than $180 million in short positions out of a total of $222 million in BTC liquidations.
Ethereum (ETH) traders also saw a significant loss of $60 million, with $44 million coming from those anticipating a price drop, according to data from CoinGlass.
Most of these liquidations, totaling $317 million, occurred within the last 12 hours, with short sellers accounting for a substantial 76% ($241 million) of the total losses.
Concurrently, trading volumes for the top three cryptocurrencies on the derivatives market witnessed significant growth.
Bitcoin’s volume experienced a remarkable 221% surge, while Ethereum and XRP saw a 108% increase in trading activity. As a result, approximately 95,000 traders faced liquidation during this period of intense market volatility.
Scott Melker, an investor and host of a cryptocurrency podcast, commented on the situation, stating:
Bitcoin bears have been left reeling as the market witnessed an extraordinary rally, resulting in massive liquidations of short positions. This surge has caught many traders off guard, leading to substantial losses in a short period.
Featured image from Shutterstock, chart from TradingView.com
MicroStrategy’s Bitcoin stash is back in profit with BTC price above $30K
The Michael Saylor-led software firm has made $132 million in unrealized profits from its Bitcoin bet.
Michael Saylor’s $4.7B Bitcoin Bet Back in the Green
Michael Saylor’s software company has invested billions of dollars into the world’s largest token by market capitalization. And the bet is slowly paying off.
FASB’s Crypto Accounting Shakeup Could Lure More Corporate Investment, Michael Saylor and Others Argue
The U.S. accounting standards board yesterday unanimously voted in favor of “fair value” accounting for crypto assets held on corporate balance sheets.
Bitcoin centralized by corporate giants should not be feared – Michael Saylor
During a recent podcast interview, Saylor explained that Bitcoin being bought and centralized by corporations should not be feared, and outlined three main reasons driving the need for custodians.
Bitcoin bought by corporate giants should not be feared — Michael Saylor
During a recent podcast interview, Michael Saylor explained that Bitcoin being bought and custodied by corporations should not be feared, outlining three main reasons driving the need for custodians.
