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The Bitcoin King Is Back
PLUS: 5 Essential Visuals For Every Crypto Investor
The Bitcoin King Is Back
5 Essential Visuals For Every Crypto Investor
“Hidden” Banking Crisis Is Super Bullish For Bitcoin
And more…
Market Data Prices as of 4:00am ET
Price (USD) | Change (24h) | Change (YTD) | |
Bitcoin (BTC) | $58,782 | -0.33% | +38.91% |
Ethereum (ETH) | $2,309 | -0.31% | +1.23% |
Solana (SOL) | $132.65 | +0.73% | +30.67% |
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THE BITCOIN KING IS BACK
BREAKING: MicroStrategy Doubles Down with $1.1 Billion Bitcoin Purchase
In a move that further solidifies its position as a leading institutional investor in Bitcoin, MicroStrategy has added 18,300 Bitcoin to its portfolio.
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR
— Michael Saylor⚡️ (@saylor)
12:07 PM • Sep 13, 2024
This purchase, valued at $1.11 billion, was made at an average price of $60,408 per Bitcoin, bringing MicroStrategy’s total Bitcoin holdings to an astounding 244,800 BTC.
To date, the company has spent approximately $9.45 billion on Bitcoin, with an average acquisition price of $38,585 per Bitcoin.
As a result of this aggressive investment, MicroStrategy stock rose by 8.18% on the same day the news was announced. The purchase was financed by the sale of more than 8 million shares via an agreement with financial institutions.
Despite these impressive numbers, some market observers remain sceptical about MicroStrategy’s Bitcoin strategy, raising concerns about the long-term implications of tying corporate assets so closely to a volatile asset.
However, with unrealized gains of over $5.3 billion on its Bitcoin holdings, the company has clearly seen significant upside.
Interestingly, the announcement had an immediate impact on Bitcoin’s price, which surged above $60,000 shortly after the news broke.
Could this be the start of a renewed bull run for Bitcoin?
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5 ESSENTIAL VISUALS FOR
EVERY CRYPTO INVESTOR
Skipping instructions might work for DIY furniture, but it’s a fast track to failure in crypto investing.
If you’re serious about building wealth, here are five key visuals you need to keep in mind:
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