2024

Bitcoin

<ul> 
 <li aria-level="1">MicroStrategy acquires an additional 18,300 BTC, raising their holdings to 244,800 Bitcoins, valued at approximately $14.68 billion.</li> 
 <li aria-level="1">MicroStrategy announces a $700 million convertible senior notes offering to increase investment in Bitcoin, acting like a spot ETF.</li> 
</ul> 
Michael Saylor, recently engaged with the global cryptocurrency community via his X social media platform, amid signs of a resurgence in Bitcoin’s market value, which approached the $60,000 mark once again.&nbsp; 
Just hours before this interaction, MicroStrategy had extended another substantial <a href="https://www.ethnews.com/microstrategys-long-term-bitcoin-play-pays-off-4-65-billion-profit-and-new-purchase/">Bitcoin investment</a> opportunity to its investors. 
Saylor posted an image depicting himself as a football player sprinting across a field in an orange uniform—the color symbolically representing Bitcoin—with the number 21 emblazoned on his jersey, a nod to the total Bitcoin supply of 21 million coins designed by creator Satoshi Nakamoto. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Running <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/X2ntwYviVF">pic.twitter.com/X2ntwYviVF</a> 
 — Michael Saylor<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1836010503966998643?ref_src=twsrc%5Etfw">September 17, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Bitcoin’s price has seen a recovery of approximately 2.76%, nearing the $60,000 threshold. This follows a notable decline of 4.55% on Monday, where it dropped from $60,358 to the $57,600 level. Earlier in the year, on March 14, Bitcoin had reached an all-time high of $73,750. Currently, it trades at about 19.55% below that peak.&nbsp; 
Adding to its <a href="https://www.ethnews.com/microstrategy-boosts-bitcoin-reserves-plans-500m-raise-for-additional-btc-acquisition/">aggressive Bitcoin strategy</a>, MicroStrategy recently announced the acquisition of an additional 18,300 BTC, valued at approximately $1.1 billion. This purchase increases the company’s holdings to a total of 244,800 Bitcoins, valued at roughly $14.68 billion, representing about 1.17% of the total Bitcoin supply.&nbsp; 
This acquisition places MicroStrategy among the top holders of Bitcoin, surpassing many dedicated spot BTC exchange-traded funds that launched in January. 
Moreover, MicroStrategy has announced a new offering of convertible senior notes aimed at raising an additional $700 million. This is intended to further bolster the company’s investment in Bitcoin. Investors will have the option to convert these notes into MicroStrategy (MSTR) shares at a future date and will receive interest payments in the interim.&nbsp; 
MicroStrategy has been operating akin to a spot Bitcoin ETF, even before such funds officially entered the market and commenced trading. This strategy underscores Saylor’s commitment to Bitcoin and signals a bullish stance on its <a href="https://www.ethnews.com/peter-schiff-warns-microstrategys-bitcoin-success-not-guaranteed/">future value</a> trajectory. 
The post <a href="https://www.ethnews.com/how-microstrategys-bullish-bet-on-bitcoin-positions-it-above-traditional-etfs/">How MicroStrategy’s Bullish Bet on Bitcoin Positions It Above Traditional ETFs!</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

How MicroStrategy’s Bullish Bet on Bitcoin Positions It Above Traditional ETFs!

ETHNews

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