2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/microstrategy-acquires-an-additional-12k-btc-as-bitcoin-rallies-in-price-discovery/">MicroStrategy Purchases 12k BTC as Bitcoin Rallies in Price Discovery</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the midst of Wall Street’s growing interest in <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin (BTC)</a>, <a href="https://www.microstrategy.com/press/microstrategy-acquires-additional-12000-btc-and-now-holds-205000-btc_03-11-2024">MicroStrategy Inc.</a> (NASDAQ: MSTR) has once again taken the spotlight. In a Monday announcement during the early New York session, MicroStrategy revealed the successful completion of its recent $800 million offering, set to mature in 2030 with a tempting annual interest rate of 0.625 percent.</p> 
<p>MicroStrategy wasted no time and promptly converted the funds into Bitcoin as part of its long-term investment strategy. The company shared that it has added 12,000 Bitcoins to its portfolio, valued at approximately $821.7 million. </p> 
<p>This move brings MicroStrategy’s total Bitcoin holdings to a significant 205,000 BTCs, initially acquired for about $6.91 billion at an average price of $33,706 per Bitcoin.</p> 
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   <p lang="en" dir="ltr">MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes &amp; excess cash for ~$68,477 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 3/10/24, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> hodls 205,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$6.91B at average price of $33,706 per bitcoin. <a href="https://t.co/YayyKtpz8d">https://t.co/YayyKtpz8d</a></p>— Michael Saylor
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1767158870294605904?ref_src=twsrc%5Etfw">March 11, 2024</a>
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<h2 class="wp-block-heading" id="h-microstrategy-s-surge-and-worth">MicroStrategy’s Surge and Worth</h2> 
<p>The strategic Bitcoin move has proven to be a game-changer for MicroStrategy. With Bitcoin in the midst of a macro bull run, the company’s stock market value has skyrocketed to a new multi-year high. MicroStrategy’s stock, which had been consolidating since the aftermath of the early 2000s internet bubble, embarked on a fresh rally after adopting its Bitcoin trading plan.</p> 
<p>The numbers speak volumes – MicroStrategy’s market value now stands at over $24 billion, marking a staggering 500 percent surge in the past year.</p> 
<h2 class="wp-block-heading" id="h-cash-inflows-and-revised-targets">Cash Inflows and Revised Targets</h2> 
<p>The increased cash inflows into Bitcoin investment products, notably through spot Bitcoin ETFs, are contributing to the bullish outlook. As of the latest update, Bitcoin’s price has surged by more than 3 percent, reaching around $72,000.</p> 
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   <p lang="en" dir="ltr">We're watching the new 9 ETFs buy 10K <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a>    a day. <br><br>This is a textbook example of a demand shock and an inelastic supply curve. <br><br>The price must rise. <a href="https://t.co/fvnruUzCeW">pic.twitter.com/fvnruUzCeW</a></p>— Thomas | heyapollo.com (@thomas_fahrer) <a href="https://twitter.com/thomas_fahrer/status/1767175298687303795?ref_src=twsrc%5Etfw">March 11, 2024</a>
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<p>This momentum has led many crypto analysts to revise their Bitcoin targets upward for this bull cycle.</p> 
<p>In an interesting twist, Bitcoin’s recent price rally has surpassed its prior all-time high, achieving this feat within just 40 days from the fourth halving. This contrasts with historical data, where Bitcoin took nearly six months to revisit its all-time high after previous halving events.</p> 
<p>MicroStrategy Inc. continues to play a pivotal role in reshaping corporate strategies and influencing the broader financial market through its bold Bitcoin investments.</p>

MicroStrategy Purchases 12k BTC as Bitcoin Rallies in Price Discovery

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