MicroStrategy’s Bitcoin Stash Exceeds 250,000 BTC Following Half-Billion Dollar Acquisition
20 Settembre 2024 - 7:15PM
NEWSBTC
Business intelligence firm MicroStrategy, led by Bitcoin (BTC) bull
Michael Saylor, announced on Friday a successful $1.01 billion
raise through the sale of convertible senior notes, a strategic
move aimed at acquiring more BTC and redeeming higher-yielding
securities. MicroStrategy Invests Additional $458 Million In BTC Of
the funds raised, MicroStrategy allocated $458 million to purchase
additional Bitcoin between September 13 and September 19, further
bolstering its position as the cryptocurrency’s largest publicly
traded corporate holder. As of September 19, the company reported
holding approximately 252,220 Bitcoin, valued at around $15.8
billion. Related Reading: Analyst Predicts A Solana Price
Crash To $80 If This Happens The convertible notes issued by
MicroStrategy carry an interest rate of 0.625% and will mature in
2028. This marks the fourth time this year that the company has
turned to the convertible note market to finance its Bitcoin
acquisitions. In conjunction with the new issuance,
MicroStrategy is redeeming $500 million of higher-interest 6.125%
notes due in 2028, reflecting a strategic shift to lower borrowing
costs while expanding its crypto portfolio. Co-founder and Chairman
Michael Saylor has played a pivotal role in shaping MicroStrategy’s
identity as a cryptocurrency investment vehicle since the company
first ventured into Bitcoin in 2020. Under his leadership,
the firm has transformed from a traditional enterprise software
maker into a de facto crypto hedge fund, demonstrating a bold
commitment to digital assets amid market fluctuations.
MicroStrategy’s stock has also seen significant gains this year,
more than doubling in value and outperforming Bitcoin’s
approximately 50% increase over the same period. The latest
acquisition follows MicroStrategy’s earlier purchase of 18,300
Bitcoin, valued at roughly $1.11 billion last week. Bitcoin Price
Analysis Following what has been deemed a bullish catalyst, the
broader cryptocurrency market has responded positively to the US
Federal Reserve’s announcement on Wednesday of a 0.50% basis point
rate cut. This decision contributed to the recovery over the
past week after Bitcoin’s price retraced to as low as $52,640 on
September 6. Bitcoin has managed to reclaim the $63,000 mark,
aiming to consolidate above this critical level for the last 24
hours. Market analyst Ali Martinez points out that this price
point coincides with Bitcoin’s 200-day simple moving average (SMA)
on its BTC/USDT daily chart, which Martinez identifies as a pivotal
threshold for the anticipated bull run in the latter part of the
year. Historically, failures to maintain this support level have
led to significant corrections, as observed in 2020, 2018, and
2014. Martinez warns that a rejection at this level could signal
trouble for Bitcoin’s future price trajectory. Related Reading: XRP
Price Surge Could Hit 9,470% — Analyst Predicts $27 Target In Bold
Forecast To mitigate the risk of a sharp decline, key support
floors have been spotted at $61,700 in the short term, with the
$60,000 mark serving as an essential threshold to prevent further
price drops. In addition, introducing new liquidity into the
market could significantly boost the Bitcoin price, as the Fed’s
decision may boost investor confidence in riskier assets such as
BTC. A successful break and consolidation above $63,000 could
set the stage for a potential challenge of the next resistance
level at $64,000 in the coming days. Featured image from DALL-E,
chart from TradingView.com
Grafico Azioni Maker (COIN:MKRUSD)
Storico
Da Ott 2024 a Nov 2024
Grafico Azioni Maker (COIN:MKRUSD)
Storico
Da Nov 2023 a Nov 2024